American Tower Co. (NYSE:AMT) Stock Holdings Trimmed by Congress Asset Management Co. MA

Congress Asset Management Co. MA cut its position in shares of American Tower Co. (NYSE:AMT) by 82.8% during the 1st quarter, Holdings Channel reports. The firm owned 1,318 shares of the real estate investment trust’s stock after selling 6,340 shares during the period. Congress Asset Management Co. MA’s holdings in American Tower were worth $260,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AMT. Gold Investment Management Ltd. acquired a new position in shares of American Tower in the 4th quarter worth $28,000. Thompson Investment Management Inc. acquired a new position in shares of American Tower in the 4th quarter worth $29,000. Private Wealth Management Group LLC acquired a new position in shares of American Tower in the 4th quarter worth $31,000. SOA Wealth Advisors LLC. acquired a new position in shares of American Tower in the 1st quarter worth $30,000. Finally, Valley National Advisers Inc. grew its holdings in shares of American Tower by 200.0% in the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 118 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at American Tower

In other news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the sale, the executive vice president now owns 28,413 shares in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the sale, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the sale, the executive vice president now owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AMT has been the topic of a number of recent research reports. Barclays decreased their target price on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. BMO Capital Markets decreased their target price on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. lowered their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, Scotiabank lowered their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $220.91.

American Tower Stock Performance

Shares of NYSE AMT opened at $194.85 on Monday. The business’s 50-day moving average price is $186.08 and its two-hundred day moving average price is $195.43. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. American Tower Co. has a one year low of $154.58 and a one year high of $219.10. The company has a market capitalization of $90.99 billion, a P/E ratio of 44.08, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter last year, the firm earned $2.54 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts anticipate that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 3.33%. American Tower’s dividend payout ratio (DPR) is currently 146.61%.

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.