Foster & Motley Inc. Sells 3,418 Shares of American Tower Co. (NYSE:AMT)

Foster & Motley Inc. reduced its stake in American Tower Co. (NYSE:AMT) by 62.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,040 shares of the real estate investment trust’s stock after selling 3,418 shares during the period. Foster & Motley Inc.’s holdings in American Tower were worth $440,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AMT. RWA Wealth Partners LLC bought a new position in American Tower during the fourth quarter valued at approximately $730,000. Stock Yards Bank & Trust Co. increased its holdings in shares of American Tower by 2.3% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 126,762 shares of the real estate investment trust’s stock worth $27,365,000 after buying an additional 2,805 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of American Tower by 41.0% in the 4th quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock valued at $1,144,014,000 after purchasing an additional 1,541,029 shares during the last quarter. Telemus Capital LLC lifted its holdings in shares of American Tower by 3.2% in the 4th quarter. Telemus Capital LLC now owns 40,325 shares of the real estate investment trust’s stock worth $8,705,000 after acquiring an additional 1,253 shares during the last quarter. Finally, MCF Advisors LLC lifted its stake in American Tower by 112.6% in the fourth quarter. MCF Advisors LLC now owns 455 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMT. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Morgan Stanley increased their target price on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Mizuho started coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. Barclays boosted their price target on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $217.36.

American Tower Price Performance

NYSE:AMT opened at $173.35 on Thursday. American Tower Co. has a one year low of $154.58 and a one year high of $219.10. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $80.84 billion, a price-to-earnings ratio of 54.51, a PEG ratio of 1.38 and a beta of 0.67. The firm’s fifty day moving average is $190.93 and its two-hundred day moving average is $194.05.

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

American Tower Cuts Dividend

The firm 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 dividend of $1.62 per share. The ex-dividend date is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.74%. American Tower’s dividend payout ratio is currently 203.77%.

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.