Greenleaf Trust Purchases 4,634 Shares of American Tower Co. (NYSE:AMT)

Greenleaf Trust lifted its position in American Tower Co. (NYSE:AMT) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 157,462 shares of the real estate investment trust’s stock after purchasing an additional 4,634 shares during the quarter. American Tower comprises approximately 0.4% of Greenleaf Trust’s portfolio, making the stock its 19th largest holding. Greenleaf Trust’s holdings in American Tower were worth $33,993,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AMT. Moneta Group Investment Advisors LLC increased its holdings in shares of American Tower by 101,474.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,474,342 shares of the real estate investment trust’s stock worth $2,219,094,000 after purchasing an additional 10,464,030 shares during the period. Norges Bank purchased a new position in American Tower in the fourth quarter worth $1,008,567,000. Daiwa Securities Group Inc. grew its position in American Tower by 2,329.8% in the third quarter. Daiwa Securities Group Inc. now owns 1,329,779 shares of the real estate investment trust’s stock worth $218,682,000 after acquiring an additional 1,275,052 shares in the last quarter. Morgan Stanley grew its position in American Tower by 15.4% in the fourth quarter. Morgan Stanley now owns 7,231,486 shares of the real estate investment trust’s stock worth $1,532,063,000 after acquiring an additional 962,800 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in American Tower by 16,195.9% in the fourth quarter. International Assets Investment Management LLC now owns 849,340 shares of the real estate investment trust’s stock worth $1,833,560,000 after acquiring an additional 844,128 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now 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. Also, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were 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 of the company’s stock, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMT. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. BMO Capital Markets cut their price target on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. JPMorgan Chase & Co. cut their price target 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. Barclays upped 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. Finally, Morgan Stanley upped their price target 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. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $217.36.

American Tower Trading Up 0.2 %

Shares of NYSE:AMT traded up $0.30 during midday trading on Friday, hitting $171.30. 2,866,660 shares of the stock traded hands, compared to its average volume of 2,425,967. The stock has a market capitalization of $79.89 billion, a PE ratio of 53.88, a P/E/G ratio of 1.36 and a beta of 0.67. The business’s 50 day moving average is $192.37 and its two-hundred day moving average is $193.43. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a one year low of $154.58 and a one year high of $219.10.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period last year, the company posted $2.34 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. As a group, research analysts forecast that American Tower Co. will post 9.94 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. Investors of record on Friday, April 12th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Thursday, April 11th. American Tower’s payout ratio is currently 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.