American Tower Co. (NYSE:AMT) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company lowered its position in shares of American Tower Co. (NYSE:AMT) by 17.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,185 shares of the real estate investment trust’s stock after selling 251 shares during the quarter. Romano Brothers AND Company’s holdings in American Tower were worth $234,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Occidental Asset Management LLC acquired a new position in shares of American Tower during the first quarter valued at approximately $2,357,000. Independence Bank of Kentucky grew its position in shares of American Tower by 30.5% in the first quarter. Independence Bank of Kentucky now owns 7,949 shares of the real estate investment trust’s stock valued at $1,571,000 after purchasing an additional 1,859 shares in the last quarter. S.E.E.D. Planning Group LLC grew its position in shares of American Tower by 29.3% in the first quarter. S.E.E.D. Planning Group LLC now owns 23,935 shares of the real estate investment trust’s stock valued at $4,729,000 after purchasing an additional 5,420 shares in the last quarter. Astoria Portfolio Advisors LLC. grew its position in shares of American Tower by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 4,701 shares of the real estate investment trust’s stock valued at $929,000 after purchasing an additional 181 shares in the last quarter. Finally, Capital Insight Partners LLC grew its position in shares of American Tower by 31.1% in the first quarter. Capital Insight Partners LLC now owns 2,937 shares of the real estate investment trust’s stock valued at $580,000 after purchasing an additional 696 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AMT shares. Mizuho started coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. BMO Capital Markets lowered their price objective on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Morgan Stanley upped their price target on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, Barclays decreased their price target on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $220.91.

Insiders Place Their Bets

In other news, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now owns 7,332 shares in the company, valued at $1,345,422. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now owns 28,413 shares in the company, valued at $5,692,828.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the sale, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

American Tower Stock Down 0.5 %

NYSE:AMT traded down $0.94 during midday trading on Friday, reaching $194.38. The company had a trading volume of 2,393,894 shares, compared to its average volume of 2,347,319. The firm has a market capitalization of $90.77 billion, a price-to-earnings ratio of 43.98, a PEG ratio of 1.39 and a beta of 0.79. The stock’s fifty day simple moving average is $188.22 and its 200-day simple moving average is $195.07. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $2.54 earnings per share. On average, sell-side analysts anticipate that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, June 14th. American Tower’s dividend payout ratio (DPR) is 146.61%.

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.