American Tower Co. (NYSE:AMT) Shares Sold by Townsend Asset Management Corp NC ADV

Townsend Asset Management Corp NC ADV decreased its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 20.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,526 shares of the real estate investment trust's stock after selling 2,634 shares during the quarter. Townsend Asset Management Corp NC ADV's holdings in American Tower were worth $1,931,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AMT. Harbor Capital Advisors Inc. purchased a new position in shares of American Tower in the 3rd quarter valued at about $139,000. QRG Capital Management Inc. grew its stake in American Tower by 9.0% during the 3rd quarter. QRG Capital Management Inc. now owns 26,911 shares of the real estate investment trust's stock worth $6,259,000 after buying an additional 2,224 shares during the last quarter. Impax Asset Management Group plc grew its stake in American Tower by 68.9% during the 3rd quarter. Impax Asset Management Group plc now owns 33,925 shares of the real estate investment trust's stock worth $7,890,000 after buying an additional 13,834 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in American Tower during the 3rd quarter worth approximately $84,000. Finally, United Advisor Group LLC grew its stake in American Tower by 8.2% during the 3rd quarter. United Advisor Group LLC now owns 3,104 shares of the real estate investment trust's stock worth $722,000 after buying an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMT shares. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Barclays dropped their price target on American Tower from $215.00 to $214.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. JMP Securities started coverage on American Tower in a research note on Monday, January 27th. They set an "outperform" rating and a $225.00 price target on the stock. Finally, Citigroup dropped their price target on American Tower from $255.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, American Tower currently has an average rating of "Moderate Buy" and an average target price of $225.21.

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Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business's stock in a transaction 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 directly owns 62,792 shares of the company's stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company's stock.

American Tower Price Performance

AMT traded up $5.56 during trading on Friday, reaching $212.49. 3,599,419 shares of the stock were exchanged, compared to its average volume of 2,227,224. The business's 50 day moving average price is $189.60 and its two-hundred day moving average price is $206.30. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $99.29 billion, a price-to-earnings ratio of 89.66, a P/E/G ratio of 1.29 and a beta of 0.85. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 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%. American Tower's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 earnings per share. As a group, equities research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.20%. This is an increase from American Tower's previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower's payout ratio is presently 134.72%.

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.