American Tower Co. (NYSE:AMT) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC reduced its stake in American Tower Co. (NYSE:AMT - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 61,050 shares of the real estate investment trust's stock after selling 3,532 shares during the quarter. Pathstone Holdings LLC's holdings in American Tower were worth $11,226,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AMT. Cohen & Steers Inc. boosted its holdings in shares of American Tower by 21.8% in the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock valued at $3,516,890,000 after buying an additional 3,437,602 shares in the last quarter. Geode Capital Management LLC grew its holdings in American Tower by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock valued at $2,074,956,000 after purchasing an additional 129,192 shares during the last quarter. FMR LLC increased its stake in shares of American Tower by 5.0% during the 4th quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock worth $2,050,390,000 after purchasing an additional 537,136 shares in the last quarter. Capital Research Global Investors increased its position in American Tower by 66.5% during the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after purchasing an additional 3,421,413 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of American Tower during the 4th quarter worth $1,164,851,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMT. Wells Fargo & Company lifted their price target on shares of American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Raymond James raised their price objective on shares of American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Morgan Stanley assumed coverage on shares of American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target on the stock. Barclays upped their target price on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Finally, UBS Group raised their price objective on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $240.25.

American Tower Stock Performance

AMT traded up $0.39 during mid-day trading on Wednesday, reaching $215.79. 648,337 shares of the company traded hands, compared to its average volume of 2,500,816. American Tower Co. has a 52-week low of $172.51 and a 52-week high of $243.56. The company's fifty day moving average price is $215.27 and its 200-day moving average price is $201.59. 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 capitalization of $101.02 billion, a P/E ratio of 91.09, a P/E/G ratio of 1.29 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.34. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower's quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.79 EPS. On average, sell-side analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's dividend payout ratio (DPR) is currently 174.81%.

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.