Crews Bank & Trust Takes Position in American Tower Co. (NYSE:AMT)

Crews Bank & Trust bought a new position in shares of American Tower Co. (NYSE:AMT) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 8,059 shares of the real estate investment trust’s stock, valued at approximately $1,478,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its position in shares of American Tower by 5.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 58,617 shares of the real estate investment trust’s stock worth $11,394,000 after buying an additional 3,218 shares during the period. Regal Investment Advisors LLC raised its holdings in shares of American Tower by 3.6% during the second quarter. Regal Investment Advisors LLC now owns 4,064 shares of the real estate investment trust’s stock worth $790,000 after acquiring an additional 142 shares in the last quarter. Truist Financial Corp increased its holdings in American Tower by 9.6% in the second quarter. Truist Financial Corp now owns 189,063 shares of the real estate investment trust’s stock worth $36,750,000 after buying an additional 16,566 shares during the last quarter. Advisory Alpha LLC boosted its holdings in American Tower by 13.7% in the second quarter. Advisory Alpha LLC now owns 1,722 shares of the real estate investment trust’s stock worth $335,000 after purchasing an additional 207 shares in the last quarter. Finally, SPC Financial Inc. lifted its holdings in American Tower by 41.2% in the 2nd quarter. SPC Financial Inc. now owns 2,951 shares of the real estate investment trust’s stock worth $574,000 after purchasing an additional 861 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Down 0.4 %

Shares of NYSE AMT opened at $186.13 on Thursday. The firm has a 50 day moving average price of $191.66 and a 200 day moving average price of $210.97. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $86.98 billion, a P/E ratio of 78.54, a P/E/G ratio of 1.24 and a beta of 0.84. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the previous year, the firm posted $2.58 EPS. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. Analysts expect that American Tower Co. will post 10.15 EPS for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.48%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMT shares. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. The Goldman Sachs Group decreased their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Wells Fargo & Company dropped their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, Mizuho reduced their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by 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.