2,892 Shares in American Tower Co. (NYSE:AMT) Acquired by Scissortail Wealth Management LLC

Scissortail Wealth Management LLC acquired a new position in shares of American Tower Co. (NYSE:AMT) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,892 shares of the real estate investment trust’s stock, valued at approximately $576,000.

Several other large investors have also recently modified their holdings of the company. McClarren Financial Advisors Inc. acquired a new position in American Tower during the 3rd quarter valued at approximately $27,000. Emerald Advisers LLC acquired a new position in American Tower during the 3rd quarter valued at approximately $29,000. Thompson Investment Management Inc. acquired a new position in American Tower during the 4th quarter valued at approximately $29,000. Pinnacle Holdings LLC acquired a new position in American Tower during the 1st quarter valued at approximately $29,000. Finally, Eagle Bay Advisors LLC acquired a new position in American Tower during the 2nd quarter valued at approximately $30,000. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AMT shares. Barclays upped their price target on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. BMO Capital Markets dropped their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Mizuho initiated coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.36.

American Tower Price Performance

AMT traded down $5.91 during midday trading on Wednesday, hitting $172.21. 3,848,820 shares of the company traded hands, compared to its average volume of 2,378,524. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. The company has a market capitalization of $80.31 billion, a price-to-earnings ratio of 54.15, a PEG ratio of 1.24 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 business has a 50 day simple moving average of $193.26 and a two-hundred day simple moving average of $193.74.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 earnings per share. On average, equities analysts forecast that American Tower Co. will post 10.05 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s payout ratio is 203.77%.

About American Tower

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.