Horan Capital Advisors LLC. Sells 599 Shares of American Tower Co. (NYSE:AMT)

Horan Capital Advisors LLC. cut its holdings in American Tower Co. (NYSE:AMT) by 36.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,054 shares of the real estate investment trust’s stock after selling 599 shares during the period. Horan Capital Advisors LLC.’s holdings in American Tower were worth $228,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AMT. McClarren Financial Advisors Inc. acquired a new position in American Tower during the third quarter worth $27,000. Emerald Advisers LLC bought a new position in American Tower during the third quarter worth about $29,000. Thompson Investment Management Inc. acquired a new position in American Tower during the fourth quarter worth approximately $29,000. Brown Shipley& Co Ltd bought a new stake in American Tower in the third quarter valued at approximately $35,000. Finally, Valley National Advisers Inc. boosted its stake 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 acquiring an additional 118 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of American Tower stock traded up $2.10 on Friday, reaching $181.74. 3,130,327 shares of the stock were exchanged, compared to its average volume of 2,879,452. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.69 and a current ratio of 0.85. The firm has a market cap of $84.75 billion, a PE ratio of 41.12, a P/E/G ratio of 1.43 and a beta of 0.71. The firm’s 50 day moving average is $189.15 and its 200-day moving average is $194.39. American Tower Co. has a one year low of $154.58 and a one year high of $219.10.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.54 EPS. As a group, analysts anticipate that American Tower Co. will post 9.96 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. Stockholders of record on Friday, April 12th were given a dividend of $1.62 per share. The ex-dividend date was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.57%. American Tower’s dividend payout ratio (DPR) is 146.61%.

Analyst Ratings Changes

AMT has been the topic of several research reports. Morgan Stanley upped their price objective on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Scotiabank cut their price objective on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research report on Wednesday. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Barclays lifted their price target on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. lowered their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus price target of $221.91.

Insider Activity at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of 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 document filed with the SEC, which can be accessed through the SEC website. In other American Tower news, 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 directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the firm’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 sale, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

American Tower 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.