Cambridge Trust Co. Buys 19,450 Shares of American Tower Co. (NYSE:AMT)

Cambridge Trust Co. boosted its position in American Tower Co. (NYSE:AMT - Free Report) by 28.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,915 shares of the real estate investment trust's stock after purchasing an additional 19,450 shares during the period. Cambridge Trust Co.'s holdings in American Tower were worth $18,763,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. BCK Partners Inc. acquired a new stake in shares of American Tower during the first quarter worth $2,892,000. Fairfield Bush & CO. boosted its holdings in American Tower by 138.9% in the first quarter. Fairfield Bush & CO. now owns 2,829 shares of the real estate investment trust's stock valued at $711,000 after acquiring an additional 1,645 shares during the last quarter. Cetera Investment Advisers boosted its holdings in American Tower by 5.7% in the first quarter. Cetera Investment Advisers now owns 14,413 shares of the real estate investment trust's stock valued at $3,621,000 after acquiring an additional 771 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in American Tower by 33.5% in the first quarter. Sequoia Financial Advisors LLC now owns 3,015 shares of the real estate investment trust's stock valued at $757,000 after acquiring an additional 756 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its position in American Tower by 1.4% in the first quarter. Loomis Sayles & Co. L P now owns 152,723 shares of the real estate investment trust's stock valued at $38,367,000 after purchasing an additional 2,071 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 11,510 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business'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 transaction of $962,584.84. Following the sale, the director now owns 18,545 shares of the company's stock, valued at $3,532,080.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AMT shares. Barclays raised their price objective on American Tower from $224.00 to $234.00 and gave the company an "overweight" rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. cut their price objective on American Tower from $236.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 28th. StockNews.com lowered American Tower from a "buy" rating to a "hold" rating in a research report on Friday, March 1st. BMO Capital Markets cut their price objective on American Tower from $235.00 to $228.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 28th. Finally, Morgan Stanley lifted their target price on American Tower from $183.00 to $196.00 and gave the stock an "equal weight" rating in a research report on Monday. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $217.36.

American Tower Stock Performance

AMT stock traded down $1.02 during midday trading on Thursday, reaching $171.00. The company had a trading volume of 2,267,718 shares, compared to its average volume of 2,420,031. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The stock has a 50 day moving average price of $192.83 and a 200 day moving average price of $193.58. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The firm has a market capitalization of $79.75 billion, a PE ratio of 54.09, a P/E/G ratio of 1.42 and a beta of 0.67.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 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 during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. The business's revenue was up 3.0% on a year-over-year basis. Analysts anticipate that American Tower Co. will post 10.06 earnings per share for the current year.

American Tower Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 annualized dividend and a dividend yield of 3.79%. American Tower's dividend payout ratio is presently 203.77%.

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.