Cambridge Trust Co. Has $18.76 Million Stake in American Tower Co. (NYSE:AMT)

Cambridge Trust Co. raised its stake in American Tower Co. (NYSE:AMT) by 28.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 86,915 shares of the real estate investment trust’s stock after buying an additional 19,450 shares during the period. Cambridge Trust Co.’s holdings in American Tower were worth $18,763,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AMT. Pinnacle Holdings LLC bought a new stake in American Tower in the first quarter worth approximately $29,000. Eagle Bay Advisors LLC acquired a new position in shares of American Tower during the 2nd quarter valued at $30,000. VitalStone Financial LLC bought a new position in American Tower during the first quarter worth $38,000. Thompson Investment Management Inc. acquired a new stake in American Tower in the fourth quarter worth $29,000. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of American Tower during the third quarter valued at about $27,000. 92.69% of the stock is currently owned by institutional investors.

Insider Activity at American Tower

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower 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 transaction, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business’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 sale, 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. 0.24% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on AMT shares. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. BMO Capital Markets decreased their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Barclays lifted their price target 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. Mizuho initiated coverage on shares of American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $217.36.

American Tower Stock Performance

American Tower stock traded down $0.90 during midday trading on Thursday, hitting $171.12. 1,324,235 shares of the company were exchanged, compared to its average volume of 2,406,963. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The firm has a market capitalization of $79.80 billion, a PE ratio of 54.09, a price-to-earnings-growth ratio of 1.42 and a beta of 0.67. The business has a fifty day simple moving average of $192.83 and a two-hundred day simple moving average of $193.58. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $2.34 earnings per share. On average, sell-side analysts forecast that American Tower Co. will post 10.06 earnings per share for the current year.

American Tower Cuts Dividend

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

American Tower Company 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.