RB Capital Management LLC Sells 310 Shares of American Tower Co. (NYSE:AMT)

RB Capital Management LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,323 shares of the real estate investment trust’s stock after selling 310 shares during the quarter. RB Capital Management LLC’s holdings in American Tower were worth $1,797,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Essex Financial Services Inc. lifted its holdings in shares of American Tower by 49.8% during the fourth quarter. Essex Financial Services Inc. now owns 4,838 shares of the real estate investment trust’s stock worth $1,044,000 after buying an additional 1,609 shares during the last quarter. Victory Capital Management Inc. increased its stake in American Tower by 2.5% in the fourth quarter. Victory Capital Management Inc. now owns 181,773 shares of the real estate investment trust’s stock valued at $39,241,000 after acquiring an additional 4,485 shares during the period. PYA Waltman Capital LLC boosted its stake in American Tower by 8.1% in the 4th quarter. PYA Waltman Capital LLC now owns 7,689 shares of the real estate investment trust’s stock valued at $1,660,000 after buying an additional 577 shares in the last quarter. Hartford Funds Management Co LLC boosted its stake in shares of American Tower by 43.3% in the 4th quarter. Hartford Funds Management Co LLC now owns 3,103 shares of the real estate investment trust’s stock valued at $670,000 after purchasing an additional 938 shares in the last quarter. Finally, Savant Capital LLC increased its holdings in shares of American Tower by 2.8% during the fourth quarter. Savant Capital LLC now owns 4,750 shares of the real estate investment trust’s stock worth $1,025,000 after buying an additional 128 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. cut their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Mizuho initiated coverage on shares of American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 target price on the stock. Morgan Stanley boosted their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Three 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $221.91.

Insider Buying and Selling at American Tower

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

American Tower Stock Up 3.1 %

Shares of NYSE:AMT traded up $5.28 during midday trading on Wednesday, reaching $176.84. The company had a trading volume of 3,533,326 shares, compared to its average volume of 2,434,875. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The business’s 50 day moving average price is $189.71 and its 200 day moving average price is $194.53. The stock has a market cap of $82.47 billion, a PE ratio of 55.61, a P/E/G ratio of 1.38 and a beta of 0.67. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $2.54 earnings per share. Research analysts forecast that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a dividend of $1.62 per share. The ex-dividend date was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.66%. American Tower’s dividend payout ratio (DPR) is 203.77%.

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.