1,060 Shares in American Tower Co. (NYSE:AMT) Bought by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC acquired a new position in shares of American Tower Co. (NYSE:AMT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,060 shares of the real estate investment trust’s stock, valued at approximately $229,000.

Several other large investors have also added to or reduced their stakes in AMT. McClarren Financial Advisors Inc. purchased a new stake in American Tower during the third quarter worth about $27,000. Thompson Investment Management Inc. bought a new position in American Tower during the fourth quarter valued at $29,000. Brown Shipley& Co Ltd purchased a new stake in American Tower in the third quarter worth $35,000. Valley National Advisers Inc. lifted its position 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 valued at $38,000 after buying an additional 118 shares during the last quarter. Finally, Oakworth Capital Inc. grew its stake in shares of American Tower by 157.9% during the 4th quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 120 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robert D. Hormats sold 700 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the transaction, the director now owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The transaction was disclosed in a legal 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 that occurred on Wednesday, February 28th. The shares were 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 $3,532,080.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now owns 7,332 shares of the company’s stock, valued at $1,345,422. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,264 shares of company stock valued at $3,458,757. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Scotiabank lowered their price target on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley lifted their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. BMO Capital Markets dropped their price objective on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, Barclays increased their price target on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.91.

American Tower Stock Performance

American Tower stock opened at $186.42 on Friday. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The firm’s fifty day moving average price is $188.62 and its 200-day moving average price is $194.99. The stock has a market cap of $86.93 billion, a P/E ratio of 42.18, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). The firm had revenue of $2.83 billion for 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 company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $2.54 EPS. On average, equities research analysts expect that American Tower Co. will post 9.96 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower’s payout ratio is currently 146.61%.

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.