Adelante Capital Management LLC cut its position in American Tower Co. (NYSE:AMT - Free Report) by 96.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 39,844 shares of the real estate investment trust's stock after selling 1,163,673 shares during the period. Adelante Capital Management LLC's holdings in American Tower were worth $7,308,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Partners Group Holding AG lifted its position in American Tower by 8.3% in the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock valued at $69,438,000 after acquiring an additional 28,988 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust's stock valued at $260,743,000 after purchasing an additional 314,769 shares in the last quarter. TigerOak Management L.L.C. purchased a new stake in shares of American Tower during the fourth quarter valued at $1,102,000. Brookstone Capital Management increased its holdings in American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock worth $1,629,000 after buying an additional 1,995 shares in the last quarter. Finally, Aviva PLC raised its position in American Tower by 13.4% in the 4th quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock worth $71,252,000 after buying an additional 46,009 shares during the last quarter. Institutional investors own 92.69% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on AMT shares. Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a research note on Monday, January 27th. BMO Capital Markets lifted their price objective on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Wells Fargo & Company raised their target price on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday. Barclays upped their price target on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Finally, Citigroup raised their price objective on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, American Tower has a consensus rating of "Buy" and a consensus target price of $239.27.
View Our Latest Stock Report on American Tower
American Tower Price Performance
AMT stock traded down $0.54 during trading on Friday, reaching $223.49. The company's stock had a trading volume of 2,732,558 shares, compared to its average volume of 2,483,803. The company's fifty day moving average is $213.58 and its 200-day moving average is $202.21. American Tower Co. has a 1 year low of $172.51 and a 1 year high of $243.56. The company has a market capitalization of $104.47 billion, a P/E ratio of 94.30, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.
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 (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 company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the company earned $2.79 EPS. The firm's quarterly revenue was down 9.6% on a year-over-year basis. On average, research analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.
American Tower Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, April 11th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.04%. This is a boost from American Tower's previous quarterly dividend of $1.62. The ex-dividend date of this dividend was Friday, April 11th. American Tower's dividend payout ratio (DPR) is presently 141.37%.
About American Tower
(
Free Report)
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.
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