American Tower Co. (NYSE:AMT) Shares Sold by Prudent Man Advisors LLC

Prudent Man Advisors LLC cut its stake in shares of American Tower Co. (NYSE:AMTGet Rating) by 18.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,403 shares of the real estate investment trust’s stock after selling 549 shares during the quarter. Prudent Man Advisors LLC’s holdings in American Tower were worth $703,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of AMT. Geode Capital Management LLC grew its position in American Tower by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,538,430 shares of the real estate investment trust’s stock worth $2,261,155,000 after purchasing an additional 179,469 shares in the last quarter. Principal Financial Group Inc. raised its position in American Tower by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 5,114,492 shares of the real estate investment trust’s stock worth $1,492,053,000 after buying an additional 161,751 shares during the last quarter. Morgan Stanley boosted its stake in American Tower by 26.7% during the 2nd quarter. Morgan Stanley now owns 4,272,674 shares of the real estate investment trust’s stock worth $1,154,222,000 after purchasing an additional 900,101 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in American Tower by 1.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,149,805 shares of the real estate investment trust’s stock worth $1,213,819,000 after purchasing an additional 43,560 shares during the period. Finally, Invesco Ltd. lifted its stake in American Tower by 11.2% in the third quarter. Invesco Ltd. now owns 3,986,934 shares of the real estate investment trust’s stock valued at $1,058,173,000 after buying an additional 402,767 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Shares of AMT traded up $0.78 during midday trading on Thursday, hitting $225.50. The stock had a trading volume of 2,193,745 shares, compared to its average volume of 2,012,622. The stock’s 50 day moving average is $247.11 and its 200 day moving average is $256.28. The firm has a market cap of $102.89 billion, a PE ratio of 38.88, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49. The company has a debt-to-equity ratio of 4.12, a current ratio of 0.51 and a quick ratio of 0.51. American Tower Co. has a 1 year low of $220.00 and a 1 year high of $303.72.

American Tower (NYSE:AMTGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.85). American Tower had a net margin of 26.72% and a return on equity of 30.44%. The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the business earned $2.46 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts expect that American Tower Co. will post 9.68 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Wednesday, April 13th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Tuesday, April 12th. This is an increase from American Tower’s previous quarterly dividend of $1.39. American Tower’s payout ratio is 96.89%.

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft cut their target price on American Tower from $288.00 to $260.00 and set a “hold” rating on the stock in a research note on Monday, February 28th. StockNews.com began coverage on shares of American Tower in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays decreased their price objective on shares of American Tower from €295.00 ($310.53) to €284.00 ($298.95) in a research report on Friday, March 18th. KeyCorp cut their target price on shares of American Tower from $311.00 to $286.00 and set an “overweight” rating for the company in a research note on Friday, February 25th. Finally, Morgan Stanley lifted their price objective on shares of American Tower from $274.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, April 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $288.92.

In other American Tower news, CFO Rodney M. Smith sold 25,389 shares of American Tower stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $270.00, for a total transaction of $6,855,030.00. Following the transaction, the chief financial officer now owns 52,398 shares of the company’s stock, valued at approximately $14,147,460. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is owned by corporate insiders.

About American Tower (Get Rating)

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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