Parkside Financial Bank & Trust Acquires 770 Shares of American Tower Co. (NYSE:AMT)

Parkside Financial Bank & Trust boosted its position in shares of American Tower Co. (NYSE:AMT) by 57.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,102 shares of the real estate investment trust’s stock after buying an additional 770 shares during the period. Parkside Financial Bank & Trust’s holdings in American Tower were worth $454,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Thompson Investment Management Inc. purchased a new position in shares of American Tower in the fourth quarter valued at $29,000. McClarren Financial Advisors Inc. purchased a new stake in American Tower during the third quarter valued at $27,000. Emerald Advisers LLC purchased a new position in shares of American Tower in the 3rd quarter worth $29,000. Valley National Advisers Inc. grew its stake in shares of American Tower by 200.0% in the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 118 shares in the last quarter. Finally, Oakworth Capital Inc. increased its holdings in shares of American Tower by 157.9% in the 4th quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Morgan Stanley lifted their price target on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. BMO Capital Markets dropped their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Mizuho started 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. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Barclays boosted their price objective on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $217.36.

American Tower Trading Up 0.4 %

AMT stock traded up $0.74 during mid-day trading on Tuesday, reaching $173.04. The company had a trading volume of 1,870,465 shares, compared to its average volume of 2,415,746. The company has a market capitalization of $80.70 billion, a PE ratio of 54.19, a price-to-earnings-growth ratio of 1.35 and a beta of 0.67. The firm has a 50 day moving average of $191.52 and a 200 day moving average of $194.09. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. 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 (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $2.34 earnings per share. On average, equities analysts predict that American Tower Co. will post 9.94 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.74%. American Tower’s dividend payout ratio is presently 203.77%.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’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 sale, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the company’s 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 transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

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.