Summit Trail Advisors LLC Acquires 99 Shares of American Tower Co. (NYSE:AMT)

Summit Trail Advisors LLC increased its holdings in shares of American Tower Co. (NYSE:AMT) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,325 shares of the real estate investment trust’s stock after purchasing an additional 99 shares during the quarter. Summit Trail Advisors LLC’s holdings in American Tower were worth $941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. McClarren Financial Advisors Inc. purchased a new stake in American Tower during the third quarter valued at $27,000. Emerald Advisers LLC purchased a new stake in American Tower during the third quarter valued at $29,000. Thompson Investment Management Inc. purchased a new stake in American Tower during the fourth quarter valued at $29,000. Brown Shipley& Co Ltd purchased a new stake in American Tower during the third quarter valued at $35,000. Finally, Valley National Advisers Inc. increased its position in American Tower by 200.0% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 118 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Trading Down 1.7 %

Shares of NYSE:AMT traded down $3.05 during trading on Monday, hitting $178.69. The company had a trading volume of 2,294,437 shares, compared to its average volume of 2,467,112. The stock has a market cap of $83.33 billion, a price-to-earnings ratio of 40.35, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. American Tower Co. has a one year low of $154.58 and a one year high of $219.10. The company has a fifty day simple moving average of $189.15 and a two-hundred day simple moving average of $194.80. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85.

American Tower (NYSE:AMT) last posted its quarterly earnings data 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 company had revenue of $2.83 billion during 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%. American Tower’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business 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 year.

American Tower Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Thursday, April 11th. American Tower’s dividend payout ratio is currently 146.61%.

Insider Buying and Selling

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’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 in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of analyst reports. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. Mizuho initiated coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. Barclays upped their price target on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. reduced their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Finally, StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $221.91.

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.