CNB Bank Has $882,000 Holdings in American Tower Co. (NYSE:AMT)

CNB Bank decreased its holdings in American Tower Co. (NYSE:AMT) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,807 shares of the real estate investment trust’s stock after selling 257 shares during the period. CNB Bank’s holdings in American Tower were worth $882,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. CX Institutional grew its holdings in American Tower by 2.9% in the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after buying an additional 54 shares in the last quarter. Palumbo Wealth Management LLC boosted its position in shares of American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after acquiring an additional 57 shares during the period. Rehmann Capital Advisory Group grew its stake in shares of American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 58 shares in the last quarter. Sivia Capital Partners LLC increased its position in American Tower by 5.3% during the third quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock worth $274,000 after acquiring an additional 59 shares during the period. Finally, Fullcircle Wealth LLC raised its stake in American Tower by 1.2% in the 3rd quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock worth $1,123,000 after purchasing an additional 61 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Up 0.3 %

NYSE:AMT opened at $190.56 on Friday. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $89.05 billion, a PE ratio of 80.71, a P/E/G ratio of 1.16 and a beta of 0.84. The firm’s 50 day simple moving average is $193.24 and its 200 day simple moving average is $211.46.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.58 earnings per share. On average, research analysts anticipate that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.40%. American Tower’s payout ratio is 273.42%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AMT shares. JPMorgan Chase & Co. raised their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Barclays reduced their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a report on Monday. BMO Capital Markets dropped their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Mizuho reduced their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $230.67.

American Tower 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.