American Tower Co. (NYSE:AMT) Shares Sold by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. lessened its stake in American Tower Co. (NYSE:AMT) by 53.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,946 shares of the real estate investment trust’s stock after selling 9,270 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in American Tower were worth $1,458,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its stake in shares of American Tower by 1.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 17,107 shares of the real estate investment trust’s stock worth $3,138,000 after purchasing an additional 250 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in American Tower during the 4th quarter worth approximately $862,000. CCLA Investment Management increased its stake in American Tower by 5.5% during the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock worth $79,344,000 after buying an additional 22,523 shares in the last quarter. Community Trust & Investment Co. lifted its position in shares of American Tower by 4.4% in the fourth quarter. Community Trust & Investment Co. now owns 15,745 shares of the real estate investment trust’s stock valued at $2,888,000 after acquiring an additional 666 shares in the last quarter. Finally, Pines Wealth Management LLC acquired a new stake in shares of American Tower in the fourth quarter worth approximately $218,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMT. BMO Capital Markets decreased their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Barclays lowered their price target on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday. Scotiabank cut their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $230.67.

American Tower Price Performance

AMT stock opened at $178.99 on Wednesday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $83.64 billion, a price-to-earnings ratio of 75.52, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. The business has a fifty day moving average of $193.58 and a two-hundred day moving average of $211.68.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.58 earnings per share. As a group, research analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a dividend of $1.62 per share. 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 3.62%. American Tower’s payout ratio is currently 273.42%.

American Tower Company 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.