Hunter Perkins Capital Management LLC Sells 635 Shares of American Tower Co. (NYSE:AMT)

Hunter Perkins Capital Management LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,205 shares of the real estate investment trust’s stock after selling 635 shares during the period. Hunter Perkins Capital Management LLC’s holdings in American Tower were worth $3,171,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMT. Balentine LLC purchased a new position in shares of American Tower during the third quarter worth about $586,000. Nordea Investment Management AB grew its stake in American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after buying an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of American Tower in the 3rd quarter worth $1,156,000. Czech National Bank raised its position in shares of American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after buying an additional 6,163 shares in the last quarter. Finally, Brookstone Capital Management raised its position in shares of American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after buying an additional 1,995 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Down 0.7 %

AMT opened at $185.17 on Monday. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The business has a 50 day simple moving average of $192.08 and a two-hundred day simple moving average of $211.24. The firm has a market capitalization of $86.53 billion, a price-to-earnings ratio of 78.13, a PEG ratio of 1.24 and a beta of 0.84.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.58 EPS. Analysts predict that American Tower Co. will post 10.15 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on AMT. Barclays reduced their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Scotiabank decreased their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday. Mizuho cut their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. JMP Securities started coverage on shares of American Tower in a report on Monday. They issued an “outperform” rating and a $225.00 price objective for the company. Finally, The Goldman Sachs Group decreased their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $226.31.

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.