Banco Bilbao Vizcaya Argentaria S.A. Sells 4,681 Shares of American Tower Co. (NYSE:AMT)

Banco Bilbao Vizcaya Argentaria S.A. trimmed its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 27.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,275 shares of the real estate investment trust's stock after selling 4,681 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in American Tower were worth $2,249,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMT. Glenview Trust co increased its holdings in shares of American Tower by 0.8% during the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock worth $1,294,000 after buying an additional 54 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in American Tower by 2.1% during the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock valued at $477,000 after buying an additional 54 shares in the last quarter. Precedent Wealth Partners LLC lifted its holdings in shares of American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock valued at $235,000 after purchasing an additional 58 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock valued at $206,000 after buying an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC boosted its position in American Tower by 2.9% during the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock valued at $398,000 after purchasing an additional 61 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Down 0.5 %

Shares of NYSE AMT traded down $1.08 during trading hours on Thursday, hitting $224.33. The company had a trading volume of 2,251,470 shares, compared to its average volume of 2,491,530. 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 firm's 50 day moving average is $212.54 and its 200-day moving average is $202.24. American Tower Co. has a 1-year low of $171.50 and a 1-year high of $243.56. The stock has a market capitalization of $104.86 billion, a P/E ratio of 94.65, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $2.54 billion. During the same quarter in the prior year, the company earned $2.79 earnings per share. The business's revenue for the quarter was down 9.6% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, April 11th were given a $1.70 dividend. The ex-dividend date of this dividend was Friday, April 11th. This is a positive change from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.03%. American Tower's dividend payout ratio is presently 141.37%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Scotiabank boosted their price target on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research note on Wednesday. JMP Securities raised their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research note on Wednesday. Barclays increased their price target on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Royal Bank of Canada lifted their price objective on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Mizuho lowered their price target on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $239.27.

American Tower Company 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.