American Tower Co. (NYSE:AMT) Stock Holdings Lessened by Bridges Investment Management Inc.

Bridges Investment Management Inc. lessened its stake in shares of American Tower Co. (NYSE:AMT) by 5.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 139,659 shares of the real estate investment trust’s stock after selling 8,412 shares during the period. Bridges Investment Management Inc.’s holdings in American Tower were worth $25,615,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMT. Rehmann Capital Advisory Group grew its position in American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 58 shares during the period. Precedent Wealth Partners LLC boosted its stake in shares of American Tower by 4.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 58 shares in the last quarter. Fullcircle Wealth LLC grew its holdings in shares of American Tower by 1.2% in the 3rd quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock worth $1,123,000 after purchasing an additional 61 shares during the last quarter. Resonant Capital Advisors LLC increased its position in shares of American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC lifted its holdings in American Tower by 2.9% during the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock valued at $398,000 after purchasing an additional 61 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AMT shares. Morgan Stanley decreased their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. BMO Capital Markets raised their price target on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research report on Thursday. The Goldman Sachs Group lowered their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on Thursday, January 16th. The shares were 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 directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

American Tower Price Performance

Shares of AMT stock opened at $205.61 on Friday. The firm’s 50 day moving average price is $187.09 and its two-hundred day moving average price is $206.69. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a market cap of $96.08 billion, a PE ratio of 86.76, a PEG ratio of 1.29 and a beta of 0.84.

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

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were paid a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.15%. American Tower’s dividend payout ratio (DPR) is presently 134.72%.

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.