Field & Main Bank Has $254,000 Stock Holdings in American Tower Co. (NYSE:AMT)

Field & Main Bank lessened its stake in shares of American Tower Co. (NYSE:AMT) by 22.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,175 shares of the real estate investment trust’s stock after selling 340 shares during the quarter. Field & Main Bank’s holdings in American Tower were worth $254,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Oak Thistle LLC boosted its stake in shares of American Tower by 23.5% during the third quarter. Oak Thistle LLC now owns 2,384 shares of the real estate investment trust’s stock valued at $392,000 after purchasing an additional 454 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its position in American Tower by 1.9% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 5,975 shares of the real estate investment trust’s stock valued at $983,000 after acquiring an additional 112 shares during the period. Valeo Financial Advisors LLC raised its stake in shares of American Tower by 13.9% during the third quarter. Valeo Financial Advisors LLC now owns 3,965 shares of the real estate investment trust’s stock valued at $652,000 after acquiring an additional 483 shares during the last quarter. Manning & Napier Group LLC grew its stake in shares of American Tower by 24.8% in the third quarter. Manning & Napier Group LLC now owns 47,973 shares of the real estate investment trust’s stock worth $7,889,000 after purchasing an additional 9,522 shares during the last quarter. Finally, Avestar Capital LLC raised its position in American Tower by 10.0% during the 3rd quarter. Avestar Capital LLC now owns 2,258 shares of the real estate investment trust’s stock worth $371,000 after purchasing an additional 206 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, 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 completion of the sale, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the company’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 value of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

American Tower Stock Up 2.0 %

Shares of NYSE AMT traded up $3.37 during mid-day trading on Monday, reaching $175.06. 2,113,991 shares of the company’s stock traded hands, compared to its average volume of 2,418,816. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69. The business has a 50-day simple moving average of $190.05 and a 200 day simple moving average of $194.49. The stock has a market cap of $81.64 billion, a P/E ratio of 55.05, a PEG ratio of 1.36 and a beta of 0.67. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10.

American Tower (NYSE:AMT) last released 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). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the firm posted $2.34 EPS. American Tower’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts expect that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.70%. The ex-dividend date was Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

Wall Street Analyst Weigh In

A number of research firms have commented on AMT. Mizuho started coverage on American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target on the stock. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Barclays upped their price objective on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. lowered their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Finally, BMO Capital Markets decreased their price target on American Tower from $235.00 to $228.00 and set an “outperform” 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 given a buy rating to the company’s stock. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $217.36.

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.