NBC Securities Inc. Lowers Holdings in American Tower Co. (NYSE:AMT)

NBC Securities Inc. reduced its stake in shares of American Tower Co. (NYSE:AMTFree Report) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,854 shares of the real estate investment trust’s stock after selling 356 shares during the period. NBC Securities Inc.’s holdings in American Tower were worth $2,990,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AMT. Mirae Asset Global Investments Co. Ltd. grew its position in American Tower by 2.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 143,516 shares of the real estate investment trust’s stock valued at $23,601,000 after acquiring an additional 3,425 shares during the period. Graypoint LLC grew its holdings in shares of American Tower by 41.7% during the 3rd quarter. Graypoint LLC now owns 1,860 shares of the real estate investment trust’s stock worth $306,000 after purchasing an additional 547 shares during the period. TIAA Trust National Association acquired a new stake in American Tower during the 3rd quarter worth approximately $3,431,000. First Horizon Advisors Inc. raised its holdings in American Tower by 3.4% in the third quarter. First Horizon Advisors Inc. now owns 56,375 shares of the real estate investment trust’s stock valued at $9,271,000 after buying an additional 1,868 shares during the period. Finally, Princeton Global Asset Management LLC grew its stake in American Tower by 684.2% during the third quarter. Princeton Global Asset Management LLC now owns 1,090 shares of the real estate investment trust’s stock worth $179,000 after buying an additional 951 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’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 transaction, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction 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. Over the last three months, insiders have sold 17,264 shares of company stock valued at $3,458,757. Company insiders own 0.18% of the company’s stock.

American Tower Stock Down 1.0 %

AMT traded down $1.88 during trading on Friday, hitting $184.49. The company had a trading volume of 3,158,133 shares, compared to its average volume of 2,779,536. The company has a market cap of $86.15 billion, a PE ratio of 41.74, a P/E/G ratio of 1.45 and a beta of 0.71. 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 1-year low of $154.58 and a 1-year high of $219.10. The business has a 50-day moving average of $188.02 and a 200-day moving average of $195.11.

American Tower (NYSE:AMTGet Free Report) last posted its quarterly 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 return on equity of 18.45% and a net margin of 18.42%. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the business posted $2.54 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts forecast that American Tower Co. will post 9.96 earnings per share for the current year.

American Tower Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.51%. American Tower’s payout ratio is 146.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $226.00 to $248.00 in a research note on Wednesday, May 1st. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. BMO Capital Markets dropped 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. Scotiabank decreased their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $221.91.

Read Our Latest Stock Report on American Tower

American Tower Company 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.

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

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