Oak Asset Management LLC Sells 180 Shares of American Tower Co. (NYSE:AMT)

Oak Asset Management LLC lessened its holdings in American Tower Co. (NYSE:AMT) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,192 shares of the real estate investment trust’s stock after selling 180 shares during the period. Oak Asset Management LLC’s holdings in American Tower were worth $2,420,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. HBK Sorce Advisory LLC grew its holdings in American Tower by 8.2% during the 2nd quarter. HBK Sorce Advisory LLC now owns 1,534 shares of the real estate investment trust’s stock valued at $298,000 after purchasing an additional 116 shares during the last quarter. Thoroughbred Financial Services LLC purchased a new stake in shares of American Tower in the second quarter worth approximately $407,000. Bcwm LLC lifted its stake in shares of American Tower by 3.2% during the 2nd quarter. Bcwm LLC now owns 26,370 shares of the real estate investment trust’s stock worth $5,126,000 after acquiring an additional 822 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in American Tower by 16.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock valued at $643,571,000 after acquiring an additional 464,429 shares during the period. Finally, One Capital Management LLC bought a new position in American Tower in the 2nd quarter valued at $1,763,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $177.02 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $82.72 billion, a PE ratio of 74.69, a P/E/G ratio of 1.31 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The stock has a fifty day moving average price of $194.28 and a 200-day moving average price of $211.79.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 EPS. Equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Mizuho lowered their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. The Goldman Sachs Group reduced their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. BMO Capital Markets dropped their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Scotiabank decreased their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $230.67.

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.