American Tower Co. (NYSE:AMT) Shares Sold by Pinion Investment Advisors LLC

Pinion Investment Advisors LLC reduced its holdings in shares of American Tower Co. (NYSE:AMT) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,817 shares of the real estate investment trust’s stock after selling 83 shares during the quarter. Pinion Investment Advisors LLC’s holdings in American Tower were worth $333,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp grew its holdings in American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after acquiring an additional 635,726 shares in the last quarter. Geode Capital Management LLC grew its stake in American Tower by 1.9% in the third 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 purchasing an additional 204,426 shares in the last quarter. FMR LLC grew its stake in 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. Charles Schwab Investment Management Inc. raised its stake in American Tower by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,316,312 shares of the real estate investment trust’s stock valued at $975,065,000 after buying an additional 107,345 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of American Tower by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock worth $981,455,000 after acquiring an additional 38,436 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity

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

American Tower Price Performance

Shares of AMT opened at $209.63 on Tuesday. The firm has a market capitalization of $97.96 billion, a price-to-earnings ratio of 88.45, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The stock’s fifty day moving average is $187.60 and its 200-day moving average is $206.52. 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 quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.29 EPS. Equities analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is currently 134.72%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AMT shares. Citigroup dropped their price target on American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Wells Fargo & Company dropped their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. The Goldman Sachs Group decreased their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Scotiabank dropped their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Finally, Morgan Stanley decreased their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $225.21.

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.