Cornell Pochily Investment Advisors Inc. Buys 238 Shares of American Tower Co. (NYSE:AMT)

Cornell Pochily Investment Advisors Inc. increased its holdings in shares of American Tower Co. (NYSE:AMT) by 7.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,294 shares of the real estate investment trust’s stock after purchasing an additional 238 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in American Tower were worth $711,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in American Tower by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock valued at $10,020,034,000 after purchasing an additional 196,942 shares during the last quarter. State Street Corp boosted its stake in shares of American Tower by 0.4% in the second quarter. State Street Corp now owns 20,401,179 shares of the real estate investment trust’s stock worth $3,987,902,000 after buying an additional 77,155 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of American Tower by 5.6% in the third quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock worth $2,135,227,000 after buying an additional 691,934 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of American Tower by 101,474.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,474,342 shares of the real estate investment trust’s stock worth $2,219,094,000 after buying an additional 10,464,030 shares during the last quarter. Finally, Cohen & Steers Inc. boosted its stake in shares of American Tower by 44.2% in the second quarter. Cohen & Steers Inc. now owns 9,842,980 shares of the real estate investment trust’s stock worth $1,908,844,000 after buying an additional 3,016,160 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMT. JPMorgan Chase & Co. reduced their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. BMO Capital Markets reduced their price target on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. HSBC started coverage on American Tower in a research report on Thursday, December 14th. They issued a “buy” rating and a $245.00 price objective for the company. Finally, Barclays raised their price target on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average price target of $217.55.

American Tower Stock Down 0.4 %

American Tower stock traded down $0.79 during midday trading on Thursday, reaching $196.59. The company’s stock had a trading volume of 303,384 shares, compared to its average volume of 2,305,734. The business has a 50-day simple moving average of $196.36 and a 200-day simple moving average of $192.05. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The company has a market cap of $91.68 billion, a P/E ratio of 62.14, a P/E/G ratio of 1.34 and a beta of 0.68.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the firm posted $2.34 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s payout ratio is currently 213.84%.

Insider Activity at American Tower

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was 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 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 accessible through this hyperlink. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s 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 transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

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.