Cambridge Trust Co. Buys 19,450 Shares of American Tower Co. (NYSE:AMT)

Cambridge Trust Co. raised its holdings in American Tower Co. (NYSE:AMT) by 28.8% in the fourth quarter, Holdings Channel reports. The fund owned 86,915 shares of the real estate investment trust’s stock after acquiring an additional 19,450 shares during the period. Cambridge Trust Co.’s holdings in American Tower were worth $18,763,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Moneta Group Investment Advisors LLC raised its stake in American Tower by 101,474.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,474,342 shares of the real estate investment trust’s stock worth $2,219,094,000 after purchasing an additional 10,464,030 shares in the last quarter. Norges Bank bought a new stake in shares of American Tower during the 4th quarter valued at approximately $1,008,567,000. Daiwa Securities Group Inc. boosted its holdings in shares of American Tower by 2,329.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,329,779 shares of the real estate investment trust’s stock valued at $218,682,000 after acquiring an additional 1,275,052 shares in the last quarter. Morgan Stanley boosted its stake in shares of American Tower by 15.4% during the fourth quarter. Morgan Stanley now owns 7,231,486 shares of the real estate investment trust’s stock valued at $1,532,063,000 after purchasing an additional 962,800 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in American Tower by 16,195.9% in the fourth quarter. International Assets Investment Management LLC now owns 849,340 shares of the real estate investment trust’s stock valued at $1,833,560,000 after purchasing an additional 844,128 shares during the period. 92.69% of the stock is owned by institutional investors.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other American Tower 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction that occurred on 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 directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

American Tower Trading Down 0.5 %

Shares of AMT stock traded down $0.90 during trading hours on Thursday, reaching $171.12. 1,324,235 shares of the stock were exchanged, compared to its average volume of 2,406,963. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The company’s 50-day moving average price is $192.83 and its 200-day moving average price is $193.58. The firm has a market capitalization of $79.80 billion, a price-to-earnings ratio of 54.09, a price-to-earnings-growth ratio of 1.42 and a beta of 0.67. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.34 earnings per share. As a group, equities analysts anticipate that American Tower Co. will post 10.06 earnings per share for the current year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.79%. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

Analysts Set New Price Targets

AMT has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Morgan Stanley boosted their target price on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday. Mizuho started coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target on the stock. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Barclays raised their price objective on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus target price of $217.36.

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.