Smithfield Trust Co Sells 61 Shares of American Tower Co. (NYSE:AMT)

Smithfield Trust Co cut its stake in shares of American Tower Co. (NYSE:AMT) by 1.4% in the 4th quarter, HoldingsChannel reports. The firm owned 4,200 shares of the real estate investment trust’s stock after selling 61 shares during the period. Smithfield Trust Co’s holdings in American Tower were worth $771,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMT. Rehmann Capital Advisory Group lifted its holdings in shares of American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 58 shares during the last quarter. Precedent Wealth Partners LLC lifted its stake in American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 58 shares during the last quarter. Resonant Capital Advisors LLC boosted its holdings in shares of American Tower by 5.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 61 shares in the last quarter. Calamos Wealth Management LLC increased its position in shares of American Tower by 2.9% during the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock valued at $398,000 after purchasing an additional 61 shares during the last quarter. Finally, Sunburst Financial Group LLC raised its holdings in shares of American Tower by 4.9% during the 4th quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of AMT stock opened at $207.21 on Wednesday. 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 cap of $96.83 billion, a P/E ratio of 87.43, a P/E/G ratio of 1.29 and a beta of 0.84. The business’s 50 day moving average price is $188.05 and its 200-day moving average price is $206.43. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the firm earned $2.29 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s payout ratio is currently 134.72%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMT. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company cut their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Morgan Stanley decreased their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. The Goldman Sachs Group cut their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Scotiabank reduced their price objective on 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. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $225.21.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

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.