M&T Bank Corp trimmed its holdings in shares of American Tower Co. (NYSE:AMT – Free Report) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 348,715 shares of the real estate investment trust’s stock after selling 5,164 shares during the quarter. M&T Bank Corp owned approximately 0.07% of American Tower worth $75,281,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of AMT. McClarren Financial Advisors Inc. purchased a new position in American Tower in the third quarter worth $27,000. Emerald Advisers LLC purchased a new position in American Tower in the third quarter worth $29,000. Thompson Investment Management Inc. purchased a new position in American Tower in the fourth quarter worth $29,000. Brown Shipley& Co Ltd purchased a new position in American Tower in the third quarter worth $35,000. Finally, Valley National Advisers Inc. grew its holdings in American Tower by 200.0% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 118 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the company’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 of the company’s stock, valued at approximately $3,532,080.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the company’s stock in a transaction dated 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 sale, 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. Insiders own 0.18% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Analysis on AMT
American Tower Price Performance
Shares of American Tower stock traded up $2.10 during trading hours on Friday, reaching $181.74. The stock had a trading volume of 3,130,327 shares, compared to its average volume of 2,879,452. The stock’s 50 day moving average is $189.15 and its 200 day moving average is $194.39. The firm has a market capitalization of $84.75 billion, a PE ratio of 41.12, a PEG ratio of 1.43 and a beta of 0.71. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The company has a current ratio of 0.85, a quick ratio of 0.69 and a debt-to-equity ratio of 3.39.
American Tower (NYSE:AMT – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $2.54 EPS. Equities analysts expect that American Tower Co. will post 9.96 earnings per share for the current fiscal year.
American Tower Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a $1.62 dividend. The ex-dividend date was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.57%. American Tower’s dividend payout ratio (DPR) is currently 146.61%.
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.
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