Union Savings Bank Has $663,000 Stake in American Tower Co. (NYSE:AMT)

Union Savings Bank cut its stake in shares of American Tower Co. (NYSE:AMT) by 12.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,615 shares of the real estate investment trust’s stock after selling 494 shares during the period. Union Savings Bank’s holdings in American Tower were worth $663,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ieq Capital LLC raised its stake in shares of American Tower by 15.3% during the 2nd quarter. Ieq Capital LLC now owns 16,689 shares of the real estate investment trust’s stock worth $3,244,000 after purchasing an additional 2,220 shares in the last quarter. AE Wealth Management LLC increased its holdings in American Tower by 7.5% in the second quarter. AE Wealth Management LLC now owns 17,102 shares of the real estate investment trust’s stock worth $3,324,000 after buying an additional 1,198 shares during the last quarter. Summit Trail Advisors LLC raised its position in American Tower by 16.3% during the second quarter. Summit Trail Advisors LLC now owns 5,671 shares of the real estate investment trust’s stock valued at $1,111,000 after acquiring an additional 795 shares in the last quarter. Profund Advisors LLC lifted its stake in American Tower by 2.9% in the second quarter. Profund Advisors LLC now owns 7,426 shares of the real estate investment trust’s stock valued at $1,443,000 after acquiring an additional 212 shares during the last quarter. Finally, Frank Rimerman Advisors LLC grew its position in American Tower by 17,200.0% in the second quarter. Frank Rimerman Advisors LLC now owns 3,633 shares of the real estate investment trust’s stock worth $706,000 after acquiring an additional 3,612 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AMT shares. JPMorgan Chase & Co. lifted their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. BMO Capital Markets reduced their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Mizuho reduced their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group lowered their price target on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.67.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on 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 sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by company insiders.

American Tower Trading Up 0.2 %

Shares of AMT stock opened at $190.51 on Monday. The firm has a market capitalization of $89.02 billion, a P/E ratio of 80.39, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm’s fifty day simple moving average is $192.86 and its 200 day simple moving average is $211.42. 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 posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the firm posted $2.58 EPS. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that American Tower Co. will post 10.15 EPS for the current year.

American Tower Announces Dividend

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

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.