American Tower Co. (NYSE:AMT) Shares Sold by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. reduced its position in American Tower Co. (NYSE:AMT) by 15.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,435 shares of the real estate investment trust’s stock after selling 1,008 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in American Tower were worth $1,173,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Gold Investment Management Ltd. purchased a new stake in shares of American Tower during the fourth quarter worth approximately $28,000. Thompson Investment Management Inc. purchased a new position in American Tower in the fourth quarter worth $29,000. Private Wealth Management Group LLC purchased a new position in American Tower in the fourth quarter worth $31,000. Brown Shipley& Co Ltd purchased a new position in American Tower in the third quarter worth $35,000. Finally, Valley National Advisers Inc. raised its position in American Tower by 200.0% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Morgan Stanley raised 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 target on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $226.00 to $248.00 in a research report on Wednesday, May 1st. Finally, StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $220.91.

American Tower Trading Up 1.0 %

Shares of NYSE:AMT traded up $1.85 during trading on Friday, reaching $197.03. 1,933,243 shares of the stock were exchanged, compared to its average volume of 2,297,492. 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 Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The firm has a market cap of $92.01 billion, a price-to-earnings ratio of 44.58, a price-to-earnings-growth ratio of 1.40 and a beta of 0.79. The firm’s 50-day moving average price is $185.16 and its 200 day moving average price is $196.08.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). The company had revenue of $2.83 billion for the quarter, compared to analyst estimates 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 was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $2.54 earnings per share. On average, sell-side analysts anticipate that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Friday, June 14th. American Tower’s payout ratio is 146.61%.

Insider Buying and Selling at American Tower

In other American Tower news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the transaction, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the sale, the executive vice president now directly owns 28,413 shares in the company, valued at approximately $5,692,828.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of 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. 0.18% of the stock is currently owned by corporate insiders.

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.