Cobblestone Capital Advisors LLC NY Boosts Holdings in American Tower Co. (NYSE:AMT)

Cobblestone Capital Advisors LLC NY boosted its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 22.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,052 shares of the real estate investment trust's stock after buying an additional 13,531 shares during the period. Cobblestone Capital Advisors LLC NY's holdings in American Tower were worth $13,398,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AMT. SVB Wealth LLC bought a new position in American Tower in the 4th quarter valued at about $1,800,000. Yelin Lapidot Holdings Management Ltd. raised its stake in shares of American Tower by 84.3% in the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 2,046 shares of the real estate investment trust's stock worth $375,000 after purchasing an additional 936 shares during the last quarter. Linscomb Wealth Inc. lifted its holdings in shares of American Tower by 1.0% in the fourth quarter. Linscomb Wealth Inc. now owns 51,761 shares of the real estate investment trust's stock valued at $9,493,000 after purchasing an additional 498 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of American Tower during the fourth quarter valued at approximately $43,193,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co grew its holdings in American Tower by 11.9% during the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,550 shares of the real estate investment trust's stock worth $468,000 after buying an additional 271 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMT has been the topic of a number of analyst reports. Morgan Stanley cut their price objective on shares of American Tower from $219.00 to $213.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They issued an "outperform" rating and a $225.00 price objective for the company. The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. Barclays reduced their target price on American Tower from $215.00 to $214.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Finally, Citizens Jmp upgraded American Tower to a "strong-buy" rating in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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 stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company's stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company's stock.

American Tower Price Performance

AMT traded up $1.89 during trading on Wednesday, reaching $209.01. 1,969,506 shares of the company were exchanged, compared to its average volume of 2,220,899. The company's 50-day moving average is $188.05 and its two-hundred day moving average is $206.43. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a market cap of $97.67 billion, a price-to-earnings ratio of 88.19, a P/E/G ratio of 1.29 and a beta of 0.84. 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 (NYSE:AMT - Get Free Report) 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, 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 return on equity of 22.01% and a net margin of 10.05%. The firm's revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 earnings per share. Research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.10%. The ex-dividend date was Friday, December 27th. American Tower's dividend payout ratio is currently 134.72%.

About American Tower

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.