Silvercrest Asset Management Group LLC Sells 75 Shares of American Tower Co. (NYSE:AMT)

Silvercrest Asset Management Group LLC lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,923 shares of the real estate investment trust’s stock after selling 75 shares during the period. Silvercrest Asset Management Group LLC’s holdings in American Tower were worth $2,370,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Minot DeBlois Advisors LLC purchased a new position in shares of American Tower during the fourth quarter valued at approximately $29,000. Roxbury Financial LLC purchased a new position in shares of American Tower during the fourth quarter valued at approximately $32,000. Graney & King LLC purchased a new position in shares of American Tower during the fourth quarter valued at approximately $32,000. Crowley Wealth Management Inc. purchased a new position in shares of American Tower during the fourth quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of American Tower during the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

NYSE AMT opened at $215.11 on Tuesday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock’s fifty day moving average price is $215.11 and its 200 day moving average price is $201.49. American Tower Co. has a 1 year low of $172.51 and a 1 year high of $243.56. The company has a market cap of $100.70 billion, a price-to-earnings ratio of 90.76, a PEG ratio of 1.29 and a beta of 0.86.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the firm earned $2.79 EPS. The firm’s revenue was down 9.6% on a year-over-year basis. As a group, equities research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s payout ratio is 174.81%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMT. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. Barclays boosted their price target on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Morgan Stanley began coverage on American Tower in a report on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 price target for the company. BMO Capital Markets boosted their price target on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, Bank of America assumed coverage on American Tower in a report on Monday. They issued a “buy” rating and a $255.00 price target for the company. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, American Tower has an average rating of “Buy” and a consensus price target of $240.25.

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.