Nixon Peabody Trust Co. Has $9.91 Million Holdings in American Tower Co. (NYSE:AMT)

Nixon Peabody Trust Co. increased its holdings in American Tower Co. (NYSE:AMT) by 386.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,899 shares of the real estate investment trust’s stock after buying an additional 36,454 shares during the period. Nixon Peabody Trust Co.’s holdings in American Tower were worth $9,909,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Cross Staff Investments Inc grew its holdings in shares of American Tower by 5.1% during the 4th quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock worth $1,085,000 after purchasing an additional 244 shares in the last quarter. Gateway Investment Advisers LLC increased its holdings in American Tower by 57.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock valued at $7,718,000 after buying an additional 13,074 shares during the period. Anchor Capital Advisors LLC raised its position in shares of American Tower by 38.1% in the 4th quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock valued at $16,542,000 after buying an additional 21,139 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of American Tower by 0.5% during the 3rd quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock worth $29,155,000 after acquiring an additional 806 shares during the period. Finally, FAS Wealth Partners Inc. acquired a new stake in shares of American Tower during the 4th quarter worth approximately $2,001,000. 92.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’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 completion of the sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other American Tower news, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the transaction, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,264 shares of company stock worth $3,458,757. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AMT shares. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Mizuho initiated coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. BMO Capital Markets reduced their price target on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Scotiabank dropped their price objective on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research note on Wednesday, May 1st. Finally, Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $226.00 to $248.00 in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus target price of $221.91.

American Tower Trading Down 0.4 %

AMT traded down $0.69 during midday trading on Friday, hitting $185.91. 1,257,930 shares of the company were exchanged, compared to its average volume of 2,419,830. The firm has a market capitalization of $86.82 billion, a P/E ratio of 42.20, a P/E/G ratio of 1.37 and a beta of 0.71. The firm’s 50 day moving average price is $185.52 and its 200-day moving average price is $196.09. 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 1-year low of $154.58 and a 1-year high of $219.10.

American Tower (NYSE:AMT) last released 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). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the previous year, the business posted $2.54 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts forecast that American Tower Co. will post 9.96 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 3.49%. American Tower’s dividend payout ratio is currently 146.61%.

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.