American Tower Co. (NYSE:AMT) Shares Sold by Nixon Peabody Trust Co.

Nixon Peabody Trust Co. cut its holdings in American Tower Co. (NYSE:AMT - Free Report) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,746 shares of the real estate investment trust's stock after selling 1,224 shares during the quarter. Nixon Peabody Trust Co.'s holdings in American Tower were worth $7,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of AMT. Hara Capital LLC bought a new stake in shares of American Tower in the third quarter worth about $31,000. Roxbury Financial LLC bought a new stake in shares of American Tower in the fourth quarter worth about $32,000. Legacy Investment Solutions LLC bought a new stake in shares of American Tower in the third quarter worth about $34,000. Activest Wealth Management grew its stake in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 125 shares during the last quarter. Finally, Bank of Jackson Hole Trust bought a new stake in American Tower during the 4th quarter valued at approximately $46,000. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

American Tower stock traded up $1.89 during mid-day trading on Wednesday, hitting $209.01. The stock had a trading volume of 1,969,651 shares, compared to its average volume of 2,220,900. The firm has a market capitalization of $97.67 billion, a P/E ratio of 88.19, a P/E/G ratio of 1.29 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm's 50 day moving average is $188.05 and its 200 day moving average is $206.43. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS 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 net margin of 10.05% and a return on equity of 22.01%. The business's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.29 EPS. On average, sell-side analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of American Tower from $219.00 to $213.00 and set an "equal weight" rating for the company in a report on Monday, February 24th. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. The Goldman Sachs Group lowered their target price 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 lowered their target price on shares of American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a report on Thursday, January 23rd. Finally, Mizuho decreased their price objective on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, American Tower currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.21.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares of the company's stock, valued at $11,371,631.20. This 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. 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.