American Tower Co. (NYSE:AMT) Shares Sold by Ledyard National Bank

Ledyard National Bank decreased its stake in shares of American Tower Co. (NYSE:AMT) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,138 shares of the real estate investment trust’s stock after selling 187 shares during the period. Ledyard National Bank’s holdings in American Tower were worth $1,325,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AMT. McClarren Financial Advisors Inc. bought a new position in shares of American Tower in the third quarter valued at approximately $27,000. Emerald Advisers LLC acquired a new stake in shares of American Tower in the 3rd quarter valued at approximately $29,000. Thompson Investment Management Inc. bought a new stake in American Tower in the 4th quarter valued at $29,000. Brown Shipley& Co Ltd acquired a new stake in shares of American Tower during the 3rd quarter worth $35,000. Finally, Valley National Advisers Inc. grew its holdings in shares of American Tower by 200.0% during the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 118 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of NYSE:AMT traded down $2.04 during midday trading on Tuesday, reaching $172.95. 1,442,288 shares of the company traded hands, compared to its average volume of 2,406,320. 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 12 month low of $154.58 and a 12 month high of $219.10. The firm has a market capitalization of $80.66 billion, a price-to-earnings ratio of 55.05, a price-to-earnings-growth ratio of 1.36 and a beta of 0.67. The firm’s fifty day moving average price is $190.05 and its two-hundred day moving average price is $194.49.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the firm posted $2.34 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts expect that American Tower Co. will post 9.94 earnings per share for the current year.

American Tower Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a $1.62 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.75%. American Tower’s dividend payout ratio is currently 203.77%.

Insiders Place Their Bets

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the company’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 completion of the transaction, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction that occurred 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 sale, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower 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 completion of the sale, the chief financial officer now 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 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AMT shares. JPMorgan Chase & Co. cut their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Mizuho assumed coverage on American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective for the company. Morgan Stanley raised their price objective 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. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Barclays lifted their target price on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $217.36.

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.