American Tower Co. (NYSE:AMT) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC decreased its holdings in American Tower Co. (NYSE:AMT - Free Report) by 7.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,495 shares of the real estate investment trust's stock after selling 4,900 shares during the period. Rafferty Asset Management LLC's holdings in American Tower were worth $11,279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Glenview Trust co raised its stake in American Tower by 0.8% in the fourth 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 in the last quarter. CreativeOne Wealth LLC increased its position in shares of 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 worth $477,000 after purchasing an additional 54 shares in the last quarter. Precedent Wealth Partners LLC increased its position 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 worth $235,000 after purchasing an additional 58 shares in the last quarter. Resonant Capital Advisors LLC increased its position 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 worth $206,000 after purchasing an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its position in shares of 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 worth $398,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

American Tower Price Performance

Shares of AMT stock traded up $0.32 during mid-day trading on Tuesday, hitting $215.45. 1,755,888 shares of the stock were exchanged, compared to its average volume of 2,507,987. The firm has a fifty day moving average of $215.11 and a 200 day moving average of $201.49. 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 Co. has a 52-week low of $172.51 and a 52-week high of $243.56. The company has a market cap of $100.86 billion, a PE ratio of 90.91, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86.

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

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.16%. American Tower's dividend payout ratio (DPR) is presently 174.81%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMT. UBS Group upped their price target on American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. BMO Capital Markets upped their target price on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Raymond James upped their target price on 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 started coverage on American Tower in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price on the stock. Finally, Bank of America started coverage on American Tower in a research report on Monday. They issued a "buy" rating and a $255.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, American Tower presently has a consensus rating of "Buy" and an average target price of $240.25.

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.