Tompkins Financial Corp Reduces Holdings in American Tower Co. (NYSE:AMT)

Tompkins Financial Corp reduced its position in American Tower Co. (NYSE:AMT) by 15.1% in the 4th quarter, Holdings Channel reports. The firm owned 563 shares of the real estate investment trust’s stock after selling 100 shares during the period. Tompkins Financial Corp’s holdings in American Tower were worth $103,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in AMT. Fortitude Family Office LLC increased its position in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the period. Fairscale Capital LLC acquired a new position in shares of American Tower in the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC purchased a new stake in American Tower in the 3rd quarter valued at $30,000. Hara Capital LLC acquired a new stake in American Tower during the 3rd quarter worth $31,000. Finally, Legacy Investment Solutions LLC purchased a new position in American Tower during the 3rd quarter worth $34,000. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of NYSE AMT opened at $190.51 on Friday. The company’s fifty day moving average is $193.09 and its two-hundred day moving average is $211.32. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $89.02 billion, a P/E ratio of 80.39, a PEG ratio of 1.16 and a beta of 0.84. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

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

American Tower Dividend Announcement

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

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Barclays decreased their target price on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group lowered their price objective 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. Finally, Scotiabank cut their price objective on shares of 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 research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock 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.