Amica Retiree Medical Trust Sells 169 Shares of American Tower Co. (NYSE:AMT)

Amica Retiree Medical Trust cut its stake in American Tower Co. (NYSE:AMT) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,953 shares of the real estate investment trust’s stock after selling 169 shares during the period. Amica Retiree Medical Trust’s holdings in American Tower were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new position in American Tower during the 3rd quarter worth $34,000. Graney & King LLC bought a new stake in shares of American Tower during the fourth quarter worth $32,000. Roxbury Financial LLC bought a new stake in shares of American Tower during the fourth quarter worth $32,000. Crowley Wealth Management Inc. bought a new position in American Tower in the fourth quarter valued at about $37,000. Finally, Hobbs Group Advisors LLC increased its position in American Tower by 51.0% in the third quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 75 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by company insiders.

American Tower Trading Up 0.2 %

Shares of NYSE:AMT opened at $209.91 on Thursday. The stock has a market capitalization of $98.12 billion, a PE ratio of 88.57, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The company’s 50-day moving average price is $197.91 and its two-hundred day moving average price is $204.94. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 earnings per share. On average, equities analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Friday, April 11th. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is 141.37%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. BMO Capital Markets raised their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Morgan Stanley decreased their price objective on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Finally, Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $210.00 to $230.00 in a research note on Monday, March 17th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $229.43.

American Tower Profile

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.