Whittier Trust Co. Has $3.23 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Whittier Trust Co. lessened its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 7.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 17,594 shares of the real estate investment trust's stock after selling 1,377 shares during the period. Whittier Trust Co.'s holdings in American Tower were worth $3,227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Prospera Private Wealth LLC acquired a new position in American Tower during the 3rd quarter worth $115,000. Commerce Bank lifted its stake in shares of American Tower by 1.4% during the third quarter. Commerce Bank now owns 18,168 shares of the real estate investment trust's stock valued at $4,225,000 after acquiring an additional 245 shares during the period. Jennison Associates LLC lifted its stake in shares of American Tower by 1.5% during the third quarter. Jennison Associates LLC now owns 45,720 shares of the real estate investment trust's stock valued at $10,633,000 after acquiring an additional 687 shares during the period. Moors & Cabot Inc. increased its position in American Tower by 9.2% in the third quarter. Moors & Cabot Inc. now owns 2,725 shares of the real estate investment trust's stock worth $637,000 after purchasing an additional 229 shares during the period. Finally, Cornerstone Advisors LLC raised its holdings in American Tower by 51.5% during the 3rd quarter. Cornerstone Advisors LLC now owns 10,300 shares of the real estate investment trust's stock worth $2,395,000 after purchasing an additional 3,500 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

American Tower Stock Up 0.2 %

NYSE AMT traded up $0.41 during trading hours on Wednesday, reaching $209.91. 1,607,370 shares of the company's stock were exchanged, compared to its average volume of 2,267,067. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company's 50-day moving average is $197.32 and its two-hundred day moving average is $204.91. The company has a market capitalization of $98.12 billion, a price-to-earnings ratio of 88.57, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

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 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted $2.29 earnings per share. On average, analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given 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 3.24%. The ex-dividend date of this dividend is Friday, April 11th. American Tower's dividend payout ratio is currently 141.37%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMT. Mizuho reduced their target price on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a report on Monday, January 27th. Wells Fargo & Company raised American Tower from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $210.00 to $230.00 in a research note on Monday, March 17th. Morgan Stanley decreased their price objective on American Tower from $219.00 to $213.00 and set an "equal weight" rating for the company in a research note on Monday, February 24th. Finally, Barclays increased their target price on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, American Tower has a consensus rating of "Buy" and a consensus price target of $229.43.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company's 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 transaction, the chief financial officer now 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 legal filing with the SEC, which is available through this link. 0.18% of the stock is owned by corporate insiders.

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.