Amica Mutual Insurance Co. Cuts Stake in American Tower Co. (NYSE:AMT)

Amica Mutual Insurance Co. lessened its stake in shares of American Tower Co. (NYSE:AMT) by 48.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,029 shares of the real estate investment trust’s stock after selling 17,286 shares during the period. Amica Mutual Insurance Co.’s holdings in American Tower were worth $3,892,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Oak Thistle LLC grew its holdings in American Tower by 23.5% during the third quarter. Oak Thistle LLC now owns 2,384 shares of the real estate investment trust’s stock valued at $392,000 after purchasing an additional 454 shares during the period. U.S. Capital Wealth Advisors LLC raised its stake in American Tower by 1.9% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 5,975 shares of the real estate investment trust’s stock valued at $983,000 after acquiring an additional 112 shares during the period. Valeo Financial Advisors LLC lifted its holdings in American Tower by 13.9% during the third quarter. Valeo Financial Advisors LLC now owns 3,965 shares of the real estate investment trust’s stock valued at $652,000 after purchasing an additional 483 shares during the last quarter. Manning & Napier Group LLC boosted its position in American Tower by 24.8% during the third quarter. Manning & Napier Group LLC now owns 47,973 shares of the real estate investment trust’s stock worth $7,889,000 after purchasing an additional 9,522 shares during the period. Finally, Avestar Capital LLC increased its stake in shares of American Tower by 10.0% in the third quarter. Avestar Capital LLC now owns 2,258 shares of the real estate investment trust’s stock worth $371,000 after purchasing an additional 206 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT traded up $3.37 during midday trading on Monday, hitting $175.06. 2,113,991 shares of the company’s stock were exchanged, compared to its average volume of 2,418,816. The business’s fifty day moving average price is $190.05 and its two-hundred day moving average price is $194.49. The company has a market cap of $81.64 billion, a price-to-earnings ratio of 55.05, a PEG ratio of 1.36 and a beta of 0.67. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10.

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

American Tower Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.70%. The ex-dividend date was Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is currently 203.77%.

Insider Transactions at American Tower

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AMT. BMO Capital Markets cut their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. JPMorgan Chase & Co. reduced their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Mizuho initiated coverage on American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 target price for the company. Finally, Morgan Stanley upped their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $217.36.

American Tower Company 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.