American Tower Co. (NYSE:AMT) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. cut its holdings in American Tower Co. (NYSE:AMT) by 48.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,023 shares of the real estate investment trust’s stock after selling 10,486 shares during the period. Bahl & Gaynor Inc.’s holdings in American Tower were worth $2,380,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Bryn Mawr Capital Management LLC purchased a new position in shares of American Tower during the fourth quarter worth about $311,000. Motley Fool Asset Management LLC grew its holdings in shares of American Tower by 74.2% during the fourth quarter. Motley Fool Asset Management LLC now owns 82,418 shares of the real estate investment trust’s stock worth $17,792,000 after buying an additional 35,113 shares during the last quarter. Syon Capital LLC grew its holdings in shares of American Tower by 20.1% during the fourth quarter. Syon Capital LLC now owns 2,065 shares of the real estate investment trust’s stock worth $446,000 after buying an additional 345 shares during the last quarter. Cross Staff Investments Inc grew its holdings in shares of American Tower by 5.1% during the fourth quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock worth $1,085,000 after buying an additional 244 shares during the last quarter. Finally, Channing Global Advisors LLC grew its holdings in shares of American Tower by 1.4% during the fourth quarter. Channing Global Advisors LLC now owns 10,324 shares of the real estate investment trust’s stock worth $2,229,000 after buying an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction on 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 transaction, 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. 0.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. JPMorgan Chase & Co. lowered their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Mizuho initiated coverage on American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target on the stock. Morgan Stanley lifted their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, Barclays lifted 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. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $217.36.

American Tower Trading Down 0.7 %

Shares of American Tower stock opened at $171.69 on Friday. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10. The company has a market capitalization of $80.07 billion, a P/E ratio of 53.97, a P/E/G ratio of 1.37 and a beta of 0.67. The business has a 50 day moving average price of $190.29 and a 200 day moving average price of $193.97.

American Tower (NYSE:AMT) last issued 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). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the prior year, the firm earned $2.34 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts anticipate that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given 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 dividend yield of 3.77%. American Tower’s dividend payout ratio is currently 203.77%.

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.