Accredited Investors Inc. Sells 390 Shares of American Tower Co. (NYSE:AMT)

by · The Markets Daily

Accredited Investors Inc. reduced its stake in shares of American Tower Co. (NYSE:AMT – Free Report) by 26.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,101 shares of the real estate investment trust’s stock after selling 390 shares during the period. Accredited Investors Inc.’s holdings in American Tower were worth $202,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Roxbury Financial LLC acquired a new stake in American Tower in the 4th quarter worth approximately $32,000. Graney & King LLC acquired a new stake in shares of American Tower in the fourth quarter worth $32,000. Crowley Wealth Management Inc. bought a new stake in shares of American Tower during the 4th quarter worth $37,000. Bank of Jackson Hole Trust acquired a new position in American Tower in the 4th quarter valued at $46,000. Finally, Versant Capital Management Inc raised its holdings in American Tower by 113.9% in the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 139 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMT. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Barclays raised their price objective on American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Morgan Stanley initiated coverage on American Tower in a research report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price objective on the stock. Mizuho reduced their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Scotiabank lowered their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $232.07.

Get Our Latest Report on AMT

American Tower Stock Up 0.5 %

Shares of AMT opened at $208.55 on Friday. The business’s 50 day simple moving average is $204.73 and its 200-day simple moving average is $203.01. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a market capitalization of $97.49 billion, a P/E ratio of 87.99, a PEG ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT – Get Free Report) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the firm posted $2.29 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is 141.37%.

American Tower Profile

(Free Report)

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.

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