Transcend Capital Advisors LLC Has $2.33 Million Stake in American Tower Co. (NYSE:AMT)

Transcend Capital Advisors LLC trimmed its position in shares of American Tower Co. (NYSE:AMT) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,791 shares of the real estate investment trust’s stock after selling 92 shares during the period. Transcend Capital Advisors LLC’s holdings in American Tower were worth $2,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AMT. Thompson Investment Management Inc. bought a new position in American Tower during the fourth quarter worth $29,000. McClarren Financial Advisors Inc. bought a new position in American Tower during the third quarter worth $27,000. Emerald Advisers LLC bought a new position in American Tower during the third quarter worth $29,000. Valley National Advisers Inc. boosted its position in American Tower by 200.0% during the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 118 shares during the period. Finally, Oakworth Capital Inc. boosted its position in shares of American Tower by 157.9% in the fourth quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 120 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was 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 in the company, valued at approximately $12,953,352.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was 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 in the company, valued at approximately $12,953,352.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the 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 completion of the transaction, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

American Tower Price Performance

AMT stock traded down $1.21 during midday trading on Friday, reaching $171.69. The company had a trading volume of 1,701,397 shares, compared to its average volume of 2,597,943. The company has a market capitalization of $80.07 billion, a price-to-earnings ratio of 53.99, a price-to-earnings-growth ratio of 1.36 and a beta of 0.67. The stock has a 50 day moving average price of $190.29 and a 200-day moving average price of $194.22. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.16). The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business’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. Equities research analysts expect that American Tower Co. will post 9.94 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. Shareholders 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 3.77%. The ex-dividend date was Thursday, April 11th. American Tower’s payout ratio is 203.77%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMT. JPMorgan Chase & Co. reduced their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Barclays boosted their target price 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. Morgan Stanley boosted their target price on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Mizuho began coverage on shares of American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.