Cerity Partners LLC Has $18.31 Million Holdings in American Tower Co. (NYSE:AMT)

Cerity Partners LLC lifted its position in American Tower Co. (NYSE:AMT) by 58.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,829 shares of the real estate investment trust’s stock after purchasing an additional 31,410 shares during the quarter. Cerity Partners LLC’s holdings in American Tower were worth $18,314,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Pinnacle Holdings LLC acquired a new position in shares of American Tower in the first quarter valued at $29,000. Eagle Bay Advisors LLC acquired a new position in shares of American Tower in the second quarter valued at $30,000. VitalStone Financial LLC acquired a new position in shares of American Tower in the first quarter valued at $38,000. Thompson Investment Management Inc. acquired a new position in shares of American Tower in the fourth quarter valued at $29,000. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of American Tower in the third quarter valued at $27,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of AMT stock opened at $179.20 on Friday. The stock’s fifty day moving average is $193.88 and its 200-day moving average is $193.33. The stock has a market capitalization of $83.57 billion, a PE ratio of 56.35, a PEG ratio of 1.24 and a beta of 0.67. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. 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 posted its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. American Tower’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.34 EPS. Equities research analysts expect that American Tower Co. will post 10.05 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s dividend payout ratio is 203.77%.

Insider Activity at American Tower

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 value of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AMT has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Mizuho initiated coverage on American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective for the company. Barclays increased their price objective on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, BMO Capital Markets dropped their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $214.91.

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.