Paladin Advisory Group LLC Sells 172 Shares of American Tower Co. (NYSE:AMT)

Paladin Advisory Group LLC reduced its holdings in shares of American Tower Co. (NYSE:AMT) by 6.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,404 shares of the real estate investment trust’s stock after selling 172 shares during the quarter. Paladin Advisory Group LLC’s holdings in American Tower were worth $519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Holdings LLC acquired a new stake in American Tower during the 1st quarter worth approximately $29,000. Eagle Bay Advisors LLC acquired a new stake in American Tower during the 2nd quarter worth approximately $30,000. VitalStone Financial LLC acquired a new stake in American Tower during the 1st quarter worth approximately $38,000. Thompson Investment Management Inc. acquired a new stake in American Tower during the 4th quarter worth approximately $29,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in American Tower during the 3rd quarter worth approximately $27,000. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

American Tower Price Performance

AMT stock traded up $0.30 during midday trading on Friday, reaching $171.30. 2,866,660 shares of the stock were exchanged, compared to its average volume of 2,425,967. The stock has a market capitalization of $79.89 billion, a PE ratio of 53.88, a P/E/G ratio of 1.36 and a beta of 0.67. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69. The company has a fifty day moving average price of $192.37 and a 200 day moving average price of $193.43.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.34 EPS. As a group, analysts expect that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a $1.62 dividend. The ex-dividend date is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.78%. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley lifted their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. BMO Capital Markets dropped their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Mizuho assumed coverage on American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. Finally, Barclays lifted their price objective on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $217.36.

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.