Yousif Capital Management LLC Sells 4,288 Shares of American Tower Co. (NYSE:AMT)

Yousif Capital Management LLC decreased its stake in American Tower Co. (NYSE:AMT) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,453 shares of the real estate investment trust’s stock after selling 4,288 shares during the period. Yousif Capital Management LLC’s holdings in American Tower were worth $17,152,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AMT. McClarren Financial Advisors Inc. bought a new stake in shares of American Tower in the third quarter worth $27,000. Emerald Advisers LLC bought a new position in shares of American Tower during the 3rd quarter valued at approximately $29,000. Thompson Investment Management Inc. purchased a new stake in shares of American Tower during the 4th quarter valued at approximately $29,000. Brown Shipley& Co Ltd purchased a new stake in shares of American Tower during the 3rd quarter valued at approximately $35,000. Finally, Valley National Advisers Inc. lifted its stake in American Tower by 200.0% in the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 118 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMT has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Morgan Stanley boosted their price objective on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Barclays upped their target price on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Finally, BMO Capital Markets reduced their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $217.36.

American Tower Stock Up 1.1 %

American Tower stock traded up $1.90 during mid-day trading on Tuesday, hitting $174.20. The company had a trading volume of 2,658,989 shares, compared to its average volume of 2,431,235. The stock has a market cap of $81.24 billion, a price-to-earnings ratio of 54.78, a PEG ratio of 1.35 and a beta of 0.67. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10. The business has a fifty day moving average of $191.24 and a 200 day moving average of $194.19. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the prior year, the business earned $2.34 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts expect that American Tower Co. will post 9.94 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.72%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

American Tower Profile

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.