Crescent Sterling Ltd. Has $253,000 Holdings in American Tower Co. (NYSE:AMT)

Crescent Sterling Ltd. increased its stake in shares of American Tower Co. (NYSE:AMT) by 18.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,278 shares of the real estate investment trust’s stock after purchasing an additional 199 shares during the period. Crescent Sterling Ltd.’s holdings in American Tower were worth $253,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Northwest Investment Counselors LLC bought a new position in American Tower during the first quarter worth about $25,000. McClarren Financial Advisors Inc. bought a new position in American Tower during the third quarter worth about $27,000. Gold Investment Management Ltd. bought a new position in American Tower during the fourth quarter worth about $28,000. Emerald Advisers LLC bought a new position in American Tower during the third quarter worth about $29,000. Finally, Thompson Investment Management Inc. bought a new position in American Tower during the fourth quarter worth about $29,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMT has been the topic of several recent analyst reports. Mizuho initiated coverage on American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Morgan Stanley boosted their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. BMO Capital Markets cut their price target on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $217.36.

American Tower Stock Down 2.0 %

AMT traded down $3.43 on Tuesday, hitting $171.56. 3,449,962 shares of the company were exchanged, compared to its average volume of 2,431,712. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The company has a market cap of $80.01 billion, a PE ratio of 53.95, a PEG ratio of 1.36 and a beta of 0.67. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The stock’s fifty day moving average is $189.71 and its 200-day moving average is $194.53.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the company posted $2.34 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Equities research analysts predict that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.78%. American Tower’s payout ratio is presently 203.77%.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a document filed with the SEC, which is available through this link. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate 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.