Pettyjohn Wood & White Inc. Sells 356 Shares of American Tower Co. (NYSE:AMT)

Pettyjohn Wood & White Inc. trimmed its stake in American Tower Co. (NYSE:AMTFree Report) by 4.9% during the 4th quarter, Holdings Channel reports. The firm owned 6,870 shares of the real estate investment trust’s stock after selling 356 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in American Tower were worth $1,483,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gold Investment Management Ltd. purchased a new position in shares of American Tower in the 4th quarter worth about $28,000. Thompson Investment Management Inc. bought a new position in American Tower during the fourth quarter valued at approximately $29,000. Private Wealth Management Group LLC purchased a new position in shares of American Tower during the fourth quarter worth approximately $31,000. Brown Shipley& Co Ltd bought a new stake in shares of American Tower in the 3rd quarter worth approximately $35,000. Finally, Valley National Advisers Inc. boosted its stake 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 valued at $38,000 after purchasing an additional 118 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Tower

In related news, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares in the company, valued at $5,692,828.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the transaction, the director now directly owns 7,332 shares of the company’s stock, valued at $1,345,422. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

American Tower Trading Up 1.5 %

Shares of American Tower stock traded up $2.92 during midday trading on Thursday, reaching $196.74. 1,531,105 shares of the company’s stock traded hands, compared to its average volume of 2,458,119. The company has a market cap of $91.87 billion, a PE ratio of 44.51, a price-to-earnings-growth ratio of 1.39 and a beta of 0.79. The stock has a 50 day moving average of $185.03 and a 200-day moving average of $196.16. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85.

American Tower (NYSE:AMTGet Free Report) last issued 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 return on equity of 18.45% and a net margin of 18.42%. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter last year, the company posted $2.54 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts expect that American Tower Co. will post 10.03 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 3.29%. American Tower’s payout ratio is 146.61%.

Analyst Ratings Changes

AMT has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Morgan Stanley boosted their target price on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Raymond James upgraded 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 research report on Wednesday, May 1st. Scotiabank lowered their price objective on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 1st. Finally, Barclays dropped their price objective on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $220.91.

Check Out Our Latest Research Report on AMT

American Tower Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (NYSE:AMTFree Report).

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

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