CHICAGO TRUST Co NA Sells 2,134 Shares of American Tower Co. (NYSE:AMT)

CHICAGO TRUST Co NA trimmed its position in shares of American Tower Co. (NYSE:AMT) by 43.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,774 shares of the real estate investment trust’s stock after selling 2,134 shares during the quarter. CHICAGO TRUST Co NA’s holdings in American Tower were worth $509,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC raised its position in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of American Tower during the second quarter valued at approximately $27,000. Northwest Investment Counselors LLC bought a new position in shares of American Tower during the third quarter valued at approximately $30,000. Hara Capital LLC purchased a new stake in American Tower in the third quarter worth $31,000. Finally, Legacy Investment Solutions LLC bought a new stake in American Tower in the third quarter valued at $34,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Up 2.1 %

Shares of American Tower stock opened at $177.02 on Tuesday. The company has a 50-day simple moving average of $194.28 and a two-hundred day simple moving average of $211.79. The stock has a market capitalization of $82.72 billion, a PE ratio of 74.69, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last released 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). The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $2.58 earnings per share. On average, analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.66%. American Tower’s payout ratio is 273.42%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Barclays cut their price objective on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday. Scotiabank decreased their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. increased their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given 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 target price of $230.67.

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.