Central Pacific Bank Trust Division Has $60,000 Position in American Tower Co. (NYSE:AMT)

Central Pacific Bank Trust Division trimmed its holdings in American Tower Co. (NYSE:AMT - Free Report) by 93.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 325 shares of the real estate investment trust's stock after selling 4,450 shares during the quarter. Central Pacific Bank Trust Division's holdings in American Tower were worth $60,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. CX Institutional boosted its holdings in American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust's stock worth $450,000 after buying an additional 54 shares in the last quarter. O Brien Greene & Co. Inc grew its holdings in shares of American Tower by 2.3% in the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust's stock worth $481,000 after acquiring an additional 55 shares during the last quarter. Palumbo Wealth Management LLC raised its position in shares of American Tower by 1.6% during the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust's stock worth $864,000 after purchasing an additional 57 shares during the period. Rehmann Capital Advisory Group raised its holdings in 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 buying an additional 58 shares during the period. Finally, Sivia Capital Partners LLC lifted its stake in American Tower by 5.3% during the third quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust's stock valued at $274,000 after buying an additional 59 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

American Tower Stock Down 1.4 %

AMT stock traded down $2.57 during trading hours on Monday, hitting $179.99. The company's stock had a trading volume of 2,262,441 shares, compared to its average volume of 2,407,547. The company has a market capitalization of $84.11 billion, a PE ratio of 75.95, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. The stock has a 50 day moving average price of $197.83 and a two-hundred day moving average price of $212.40. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the company earned $2.58 earnings per share. The company's quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities research analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.60%. American Tower's payout ratio is currently 273.42%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AMT shares. The Goldman Sachs Group cut their price target on shares of American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. BMO Capital Markets cut their target price on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Barclays decreased their target price on American Tower from $255.00 to $251.00 and set an "overweight" rating for the company in a research report on Monday, November 18th. StockNews.com lowered American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Finally, Mizuho raised their price objective on American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $235.08.

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.