American Tower Co. (NYSE:AMT) Shares Acquired by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of American Tower Co. (NYSE:AMT) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,833 shares of the real estate investment trust’s stock after purchasing an additional 224 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in American Tower were worth $886,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMT. State Street Corp boosted its position in shares of American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after buying an additional 635,726 shares during the period. Geode Capital Management LLC boosted its position in American Tower by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock worth $2,599,074,000 after acquiring an additional 204,426 shares during the period. FMR LLC grew its stake in shares of American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of American Tower by 41.8% during the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after purchasing an additional 1,885,421 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of American Tower by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock valued at $1,211,397,000 after purchasing an additional 243,061 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

American Tower Trading Up 0.2 %

Shares of AMT opened at $190.51 on Monday. The business’s 50-day moving average price is $192.86 and its 200 day moving average price is $211.42. 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 stock has a market capitalization of $89.02 billion, a P/E ratio of 80.39, a P/E/G ratio of 1.16 and a beta of 0.84. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last released 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). The firm had revenue of $2.52 billion during 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%. The business’s revenue was down 10.5% on a year-over-year basis. During the same period last year, the business earned $2.58 earnings per share. Analysts expect that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.40%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMT. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Barclays dropped 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, January 13th. BMO Capital Markets lowered their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $245.00 to $230.00 in a report on Thursday, October 10th. 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. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.67.

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.