Manchester Capital Management LLC Sells 142 Shares of American Tower Co. (NYSE:AMT)

Manchester Capital Management LLC lowered its stake in American Tower Co. (NYSE:AMTFree Report) by 8.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,464 shares of the real estate investment trust’s stock after selling 142 shares during the quarter. Manchester Capital Management LLC’s holdings in American Tower were worth $316,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alera Investment Advisors LLC increased its stake in shares of American Tower by 1.3% during the fourth quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock valued at $886,000 after buying an additional 51 shares during the period. First Business Financial Services Inc. increased its stake in shares of American Tower by 1.3% during the third quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust’s stock valued at $705,000 after buying an additional 55 shares during the period. Northcape Wealth Management LLC increased its stake in shares of American Tower by 0.5% during the third quarter. Northcape Wealth Management LLC now owns 10,521 shares of the real estate investment trust’s stock valued at $1,730,000 after buying an additional 56 shares during the period. Augustine Asset Management Inc. increased its stake in shares of American Tower by 0.8% during the fourth quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock valued at $1,531,000 after buying an additional 56 shares during the period. Finally, McIlrath & Eck LLC increased its stake in shares of American Tower by 13.9% during the fourth quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 56 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.2 %

Shares of NYSE AMT traded down $0.43 during trading on Friday, reaching $194.51. The company had a trading volume of 2,157,303 shares, compared to its average volume of 2,638,604. The stock has a market cap of $90.83 billion, a PE ratio of 44.01, a P/E/G ratio of 1.54 and a beta of 0.71. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The business’s 50-day moving average is $186.50 and its 200 day moving average is $195.98.

American Tower (NYSE:AMTGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.54 earnings per share. As a group, equities analysts forecast that American Tower Co. will post 9.96 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower’s payout ratio is currently 146.61%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BMO Capital Markets reduced their target price on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Morgan Stanley upped their price target on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Barclays upped their price target on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Scotiabank reduced their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.91.

View Our Latest Stock Report on AMT

Insider Activity

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction dated 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 owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the 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 transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Insiders have sold a total of 17,264 shares of company stock valued at $3,458,757 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

American Tower Profile

(Free Report)

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.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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