Patriot Financial Group Insurance Agency LLC Has $831,000 Stake in American Tower Co. (NYSE:AMT)

Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,531 shares of the real estate investment trust’s stock after purchasing an additional 133 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in American Tower were worth $831,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AMT. Balentine LLC bought a new position in American Tower in the third quarter valued at approximately $586,000. Nordea Investment Management AB raised its holdings 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 acquiring an additional 314,769 shares during the period. Point72 Hong Kong Ltd bought a new stake in American Tower in the 3rd quarter valued at $1,156,000. Czech National Bank increased its holdings in American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after purchasing an additional 6,163 shares in the last quarter. Finally, Brookstone Capital Management increased its holdings in American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after purchasing an additional 1,995 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMT. Mizuho reduced their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company reduced their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, Barclays lowered their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average target price of $226.23.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

American Tower Price Performance

NYSE:AMT opened at $187.06 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The stock’s 50 day moving average price is $191.94 and its two-hundred day moving average price is $211.14. The firm has a market capitalization of $87.41 billion, a price-to-earnings ratio of 78.93, a P/E/G ratio of 1.24 and a beta of 0.84.

American Tower (NYSE:AMT) last announced its quarterly earnings results 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 net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the business earned $2.58 EPS. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, analysts anticipate that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.46%. American Tower’s dividend payout ratio (DPR) is currently 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.