McCollum Christoferson Group LLC Sells 464 Shares of American Tower Co. (NYSE:AMT)

McCollum Christoferson Group LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 31,694 shares of the real estate investment trust’s stock after selling 464 shares during the period. American Tower accounts for about 1.7% of McCollum Christoferson Group LLC’s investment portfolio, making the stock its 27th biggest holding. McCollum Christoferson Group LLC’s holdings in American Tower were worth $5,813,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Roxbury Financial LLC bought a new position in shares of American Tower during the 4th quarter valued at approximately $32,000. Legacy Investment Solutions LLC purchased a new position in American Tower during the third quarter valued at approximately $34,000. Crowley Wealth Management Inc. bought a new position in shares of American Tower in the fourth quarter worth approximately $37,000. Bank of Jackson Hole Trust purchased a new stake in shares of American Tower in the fourth quarter worth $46,000. Finally, Versant Capital Management Inc raised its position in shares of American Tower by 113.9% during the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 139 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup increased their price target on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Barclays increased their target price on American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets boosted their price target on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Scotiabank cut their price objective on shares of 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, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $229.43.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated 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 of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

American Tower Trading Up 1.0 %

AMT opened at $216.41 on Monday. The stock has a 50-day moving average of $195.99 and a 200 day moving average of $205.24. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm has a market cap of $101.16 billion, a P/E ratio of 91.31, a P/E/G ratio of 1.29 and a beta of 0.85.

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

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.14%. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is currently 141.37%.

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.