American Tower Co. (NYSE:AMT) Shares Sold by Bath Savings Trust Co

Bath Savings Trust Co reduced its position in American Tower Co. (NYSE:AMT) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,376 shares of the real estate investment trust’s stock after selling 65 shares during the period. American Tower makes up approximately 1.2% of Bath Savings Trust Co’s holdings, making the stock its 24th largest holding. Bath Savings Trust Co’s holdings in American Tower were worth $11,807,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Canandaigua National Trust Co of Florida grew its stake in American Tower by 16.1% during the fourth quarter. Canandaigua National Trust Co of Florida now owns 5,063 shares of the real estate investment trust’s stock worth $929,000 after buying an additional 702 shares during the period. Ables Iannone Moore & Associates Inc. boosted its position in American Tower by 5.9% during the 4th quarter. Ables Iannone Moore & Associates Inc. now owns 16,749 shares of the real estate investment trust’s stock worth $3,072,000 after purchasing an additional 938 shares during the period. Insight Wealth Strategies LLC increased its holdings in American Tower by 1.9% in the 4th quarter. Insight Wealth Strategies LLC now owns 11,051 shares of the real estate investment trust’s stock valued at $2,027,000 after purchasing an additional 211 shares in the last quarter. Iowa State Bank raised its position in American Tower by 2.1% in the fourth quarter. Iowa State Bank now owns 15,843 shares of the real estate investment trust’s stock valued at $2,906,000 after purchasing an additional 324 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after purchasing an additional 314,769 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMT. BMO Capital Markets dropped their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Barclays decreased their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.08.

American Tower Stock Down 1.4 %

NYSE AMT traded down $2.54 on Tuesday, hitting $177.72. 917,760 shares of the stock traded hands, compared to its average volume of 2,022,125. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a 50-day moving average of $197.83 and a 200 day moving average of $212.40. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a market capitalization of $83.05 billion, a P/E ratio of 74.99, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the business earned $2.58 earnings per share. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.