Capital Asset Advisory Services LLC Has $269,000 Holdings in American Tower Co. (NYSE:AMT)

Capital Asset Advisory Services LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 34.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,417 shares of the real estate investment trust’s stock after selling 735 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in American Tower were worth $269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the 1st quarter valued at about $25,000. Gold Investment Management Ltd. acquired a new position in shares of American Tower in the 4th quarter valued at about $28,000. Thompson Investment Management Inc. acquired a new position in shares of American Tower in the 4th quarter valued at about $29,000. SOA Wealth Advisors LLC. acquired a new position in shares of American Tower in the 1st quarter valued at about $30,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of American Tower in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

American Tower stock traded down $0.94 during trading hours on Friday, reaching $194.38. 2,365,458 shares of the company were exchanged, compared to its average volume of 2,422,567. The firm has a market cap of $90.77 billion, a price-to-earnings ratio of 43.98, a PEG ratio of 1.37 and a beta of 0.79. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39. The stock has a 50-day moving average of $188.22 and a 200 day moving average of $195.14. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the company posted $2.54 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, research analysts anticipate that American Tower Co. will post 10.03 earnings per share for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.33%. American Tower’s payout ratio is 146.61%.

Insider Activity at American Tower

In related news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the transaction, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the transaction, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the transaction, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. BMO Capital Markets dropped their target price on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Barclays lowered their price target on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Scotiabank lowered their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research note on Wednesday, May 1st. Mizuho began coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. Finally, StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.91.

About American Tower

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.