American Tower Co. (NYSE:AMT) Shares Sold by Hemenway Trust Co LLC

Hemenway Trust Co LLC cut its stake in American Tower Co. (NYSE:AMT) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,184 shares of the real estate investment trust’s stock after selling 177 shares during the period. Hemenway Trust Co LLC’s holdings in American Tower were worth $767,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in American Tower during the third quarter valued at $34,000. Graney & King LLC acquired a new stake in shares of American Tower during the 4th quarter worth approximately $32,000. Roxbury Financial LLC acquired a new stake in American Tower during the fourth quarter valued at approximately $32,000. Crowley Wealth Management Inc. bought a new position in American Tower in the 4th quarter valued at $37,000. Finally, Hobbs Group Advisors LLC lifted its stake in shares of American Tower by 51.0% during the third quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 75 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

NYSE AMT opened at $220.43 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $103.04 billion, a P/E ratio of 93.01, a P/E/G ratio of 1.29 and a beta of 0.87. The firm’s fifty day simple moving average is $202.22 and its two-hundred day simple moving average is $204.19. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the company earned $2.29 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a dividend of $1.70 per share. This is a boost from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 141.37%.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMT. Wells Fargo & Company upgraded shares of American Tower from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $210.00 to $230.00 in a research report on Monday, March 17th. Morgan Stanley assumed coverage on shares of American Tower in a research report on Tuesday. They issued an “overweight” rating and a $250.00 price objective on the stock. JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Scotiabank decreased their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Finally, Citigroup raised their price target on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $232.07.

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.