Radnor Capital Management LLC Sells 925 Shares of American Tower Co. (NYSE:AMT)

Radnor Capital Management LLC reduced its stake in shares of American Tower Co. (NYSE:AMT) by 28.0% in the fourth quarter, Holdings Channel reports. The fund owned 2,383 shares of the real estate investment trust’s stock after selling 925 shares during the quarter. Radnor Capital Management LLC’s holdings in American Tower were worth $437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of AMT. Assenagon Asset Management S.A. increased its position in American Tower by 1.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 17,107 shares of the real estate investment trust’s stock worth $3,138,000 after buying an additional 250 shares during the last quarter. Board of the Pension Protection Fund bought a new position in shares of American Tower during the 4th quarter worth $862,000. CCLA Investment Management raised its stake in American Tower by 5.5% in the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock valued at $79,344,000 after acquiring an additional 22,523 shares during the period. Community Trust & Investment Co. lifted its holdings in American Tower by 4.4% during the fourth quarter. Community Trust & Investment Co. now owns 15,745 shares of the real estate investment trust’s stock valued at $2,888,000 after purchasing an additional 666 shares during the last quarter. Finally, Pines Wealth Management LLC bought a new position in American Tower during the fourth quarter worth about $218,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays lowered their price target on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Scotiabank reduced their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group dropped their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, BMO Capital Markets reduced their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $230.67.

American Tower Stock Performance

NYSE:AMT opened at $180.31 on Thursday. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $84.26 billion, a P/E ratio of 76.08, a PEG ratio of 1.16 and a beta of 0.84. The business’s 50-day moving average price is $193.58 and its two-hundred day moving average price is $211.68.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.58 earnings per share. As a group, equities analysts predict that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.59%. American Tower’s dividend payout ratio is presently 273.42%.

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.