American Tower Co. (NYSE:AMT) Shares Sold by Northcape Wealth Management LLC

Northcape Wealth Management LLC reduced its position in shares of American Tower Co. (NYSE:AMT) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,400 shares of the real estate investment trust’s stock after selling 121 shares during the quarter. Northcape Wealth Management LLC’s holdings in American Tower were worth $2,245,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. McClarren Financial Advisors Inc. acquired a new stake in shares of American Tower during the third quarter worth $27,000. Emerald Advisers LLC acquired a new position in shares of American Tower in the 3rd quarter valued at about $29,000. Thompson Investment Management Inc. purchased a new stake in shares of American Tower during the fourth quarter worth $29,000. Brown Shipley& Co Ltd acquired a new stake in American Tower during the third quarter valued at $35,000. Finally, Valley National Advisers Inc. increased its holdings in American Tower by 200.0% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 118 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMT has been the subject of a number of analyst reports. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 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 objective on the stock. BMO Capital Markets decreased their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Morgan Stanley lifted their price target on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Barclays increased their price objective on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $217.36.

American Tower Price Performance

Shares of American Tower stock traded down $3.43 on Tuesday, reaching $171.56. 3,449,962 shares of the stock were exchanged, compared to its average volume of 2,431,712. The firm’s 50 day moving average is $190.05 and its 200-day moving average is $194.49. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $80.01 billion, a PE ratio of 55.05, a P/E/G ratio of 1.36 and a beta of 0.67. American Tower Co. has a one year low of $154.58 and a one year high of $219.10.

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

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

Insider Buying and Selling

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now 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 available through this hyperlink. In related news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value 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 can be accessed through this hyperlink. Also, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

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.