Avalon Trust Co Has $15.84 Million Position in American Tower Co. (NYSE:AMT)

Avalon Trust Co trimmed its holdings in American Tower Co. (NYSE:AMT) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,352 shares of the real estate investment trust’s stock after selling 175 shares during the quarter. American Tower comprises about 1.4% of Avalon Trust Co’s portfolio, making the stock its 25th biggest position. Avalon Trust Co’s holdings in American Tower were worth $15,835,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. TCG Advisory Services LLC boosted its holdings in shares of American Tower by 1,004.9% during the 4th quarter. TCG Advisory Services LLC now owns 20,110 shares of the real estate investment trust’s stock worth $4,341,000 after buying an additional 18,290 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its stake in American Tower by 18.9% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 10,716 shares of the real estate investment trust’s stock worth $2,313,000 after acquiring an additional 1,707 shares in the last quarter. AJOVista LLC acquired a new stake in American Tower in the fourth quarter worth $188,000. Legacy Financial Advisors Inc. acquired a new position in shares of American Tower during the fourth quarter valued at about $235,000. Finally, Knuff & Co LLC boosted its position in shares of American Tower by 0.5% during the 4th quarter. Knuff & Co LLC now owns 22,502 shares of the real estate investment trust’s stock worth $4,858,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock traded up $2.10 during trading hours on Friday, hitting $181.74. 3,130,327 shares of the company’s stock traded hands, compared to its average volume of 2,879,452. The stock has a market capitalization of $84.75 billion, a price-to-earnings ratio of 41.12, a PEG ratio of 1.42 and a beta of 0.71. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.69. The company has a fifty day simple moving average of $189.15 and a 200-day simple moving average of $194.39.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $2.54 EPS. Equities research analysts anticipate that American Tower Co. will post 9.96 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a $1.62 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.57%. American Tower’s payout ratio is 146.61%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Mizuho initiated coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. Scotiabank lowered their target price on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research report on Wednesday. Morgan Stanley lifted 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. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, BMO Capital Markets lowered their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $221.91.

Insider Buying and Selling at American Tower

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