Harbor Investment Advisory LLC Sells 1,275 Shares of American Tower Co. (NYSE:AMT)

Harbor Investment Advisory LLC cut its stake in shares of American Tower Co. (NYSE:AMT) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,638 shares of the real estate investment trust’s stock after selling 1,275 shares during the period. Harbor Investment Advisory LLC’s holdings in American Tower were worth $3,052,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AMT. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in American Tower by 4.9% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,833 shares of the real estate investment trust’s stock worth $886,000 after purchasing an additional 224 shares during the period. Stokes Capital Advisors LLC raised its stake in American Tower by 4.4% during the 4th quarter. Stokes Capital Advisors LLC now owns 19,886 shares of the real estate investment trust’s stock worth $3,647,000 after buying an additional 832 shares during the period. Sarasin & Partners LLP lifted its holdings in American Tower by 4.2% during the fourth quarter. Sarasin & Partners LLP now owns 936,011 shares of the real estate investment trust’s stock worth $171,674,000 after acquiring an additional 37,692 shares in the last quarter. LVW Advisors LLC grew its stake in American Tower by 76.9% in the fourth quarter. LVW Advisors LLC now owns 2,745 shares of the real estate investment trust’s stock valued at $504,000 after acquiring an additional 1,193 shares during the period. Finally, Grove Bank & Trust increased its holdings in shares of American Tower by 4.8% in the fourth quarter. Grove Bank & Trust now owns 1,436 shares of the real estate investment trust’s stock worth $263,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.2 %

NYSE AMT opened at $190.51 on Tuesday. The company has a market cap of $89.02 billion, a PE ratio of 80.39, a PEG ratio of 1.28 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The stock has a 50 day moving average of $192.86 and a 200-day moving average of $211.54. 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 (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue was down 10.5% on a year-over-year basis. During the same period last year, the business earned $2.58 EPS. On average, equities research analysts anticipate that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.40%. American Tower’s payout ratio is 273.42%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AMT shares. Barclays cut their price objective on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. BMO Capital Markets reduced their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group reduced their target price on shares of 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, Scotiabank cut their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $230.67.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

American Tower Company 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.