Simmons Bank Has $3.29 Million Holdings in American Tower Co. (NYSE:AMT)

Simmons Bank lessened its stake in shares of American Tower Co. (NYSE:AMT) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,260 shares of the real estate investment trust’s stock after selling 452 shares during the quarter. Simmons Bank’s holdings in American Tower were worth $3,294,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of American Tower by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,808,113 shares of the real estate investment trust’s stock valued at $1,037,975,000 after purchasing an additional 122,265 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in American Tower during the 4th quarter worth approximately $215,000. Apollon Wealth Management LLC grew its holdings in American Tower by 45.4% during the 4th quarter. Apollon Wealth Management LLC now owns 9,329 shares of the real estate investment trust’s stock worth $2,014,000 after acquiring an additional 2,911 shares during the last quarter. Maryland State Retirement & Pension System increased its position in American Tower by 1.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 428,245 shares of the real estate investment trust’s stock valued at $92,450,000 after acquiring an additional 5,782 shares during the period. Finally, Private Advisor Group LLC raised its stake in shares of American Tower by 2.8% during the fourth quarter. Private Advisor Group LLC now owns 74,504 shares of the real estate investment trust’s stock valued at $16,084,000 after acquiring an additional 2,029 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Up 1.5 %

Shares of AMT stock traded up $2.66 on Tuesday, reaching $181.35. 2,594,849 shares of the company were exchanged, compared to its average volume of 2,468,563. American Tower Co. has a one year low of $154.58 and a one year high of $219.10. The company has a market cap of $84.57 billion, a price-to-earnings ratio of 41.03, a PEG ratio of 1.43 and a beta of 0.71. The company has a 50-day moving average of $188.86 and a 200-day moving average of $195.09. 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 (NYSE:AMT) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the prior year, the firm earned $2.54 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. Analysts anticipate that American Tower Co. will post 9.96 earnings per share for the current year.

American Tower Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is 146.61%.

Insider Transactions at American Tower

In other news, Director Robert D. Hormats sold 700 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the sale, the director now directly owns 7,332 shares of the company’s stock, valued at $1,345,422. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the transaction, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The disclosure for this sale can be found here. Insiders sold a total of 17,264 shares of company stock valued at $3,458,757 over the last three months. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of recent research reports. Barclays increased 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. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $226.00 to $248.00 in a report on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Finally, Scotiabank lowered their target price on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $221.91.

American Tower Company 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.