Janney Capital Management LLC Has $8.07 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Janney Capital Management LLC cut its holdings in American Tower Co. (NYSE:AMT) by 4.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 40,830 shares of the real estate investment trust’s stock after selling 2,061 shares during the quarter. Janney Capital Management LLC’s holdings in American Tower were worth $8,068,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cross Staff Investments Inc grew its position in shares of American Tower by 5.1% in the 4th quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock valued at $1,085,000 after purchasing an additional 244 shares during the period. Gateway Investment Advisers LLC boosted its position in American Tower by 57.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock worth $7,718,000 after acquiring an additional 13,074 shares during the last quarter. Anchor Capital Advisors LLC boosted its position in American Tower by 38.1% during the 4th quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock worth $16,542,000 after acquiring an additional 21,139 shares during the last quarter. Meyer Handelman Co. acquired a new position in American Tower during the 1st quarter worth approximately $801,000. Finally, TD Asset Management Inc boosted its position in American Tower by 23.2% during the 4th quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock worth $59,459,000 after acquiring an additional 51,882 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMT has been the subject of a number of recent research reports. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. Scotiabank reduced their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 1st. Barclays reduced their price target on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Morgan Stanley increased their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, Mizuho started coverage on American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $221.67.

Insiders Place Their Bets

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now owns 28,413 shares in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now owns 28,413 shares in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert D. Hormats sold 700 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the sale, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

AMT traded up $0.85 during trading hours on Friday, reaching $195.64. The company’s stock had a trading volume of 1,018,567 shares, compared to its average volume of 1,881,181. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The company’s 50-day moving average is $190.36 and its 200-day moving average is $194.58. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $91.36 billion, a PE ratio of 44.26, a price-to-earnings-growth ratio of 1.39 and a beta of 0.81.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $2.54 EPS. On average, equities analysts forecast that American Tower Co. will post 10.03 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s payout ratio is 146.61%.

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.