Whittier Trust Co. of Nevada Inc. Trims Stock Holdings in American Tower Co. (NYSE:AMT)

Whittier Trust Co. of Nevada Inc. decreased its position in American Tower Co. (NYSE:AMT) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,832 shares of the real estate investment trust’s stock after selling 885 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in American Tower were worth $1,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMT. Legacy Investment Solutions LLC purchased a new position in shares of American Tower during the 3rd quarter valued at about $34,000. Roxbury Financial LLC purchased a new position in shares of American Tower during the 4th quarter valued at about $32,000. Hobbs Group Advisors LLC raised its stake in shares of American Tower by 51.0% during the 3rd quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 75 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of American Tower by 49.3% during the 3rd quarter. Larson Financial Group LLC now owns 227 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 75 shares during the last quarter. Finally, Bank of Jackson Hole Trust purchased a new position in shares of American Tower during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of a number of analyst reports. BMO Capital Markets raised their target price on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Scotiabank dropped their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Mizuho dropped their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group dropped their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $229.43.

American Tower Trading Up 1.0 %

Shares of American Tower stock opened at $216.41 on Friday. The stock has a market cap of $101.16 billion, a P/E ratio of 91.31, a P/E/G ratio of 1.29 and a beta of 0.85. The stock’s 50 day simple moving average is $195.99 and its 200-day simple moving average is $205.43. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. 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 (NYSE:AMT) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.83. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 EPS. Analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. This is a boost from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s payout ratio is currently 141.37%.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

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.