American Tower Co. (NYSE:AMT) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,925 shares of the real estate investment trust's stock after selling 1,857 shares during the period. Public Employees Retirement Association of Colorado's holdings in American Tower were worth $11,541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMT. Cohen & Steers Inc. lifted 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 during the period. Geode Capital Management LLC boosted its stake in shares of American Tower by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock worth $2,074,956,000 after acquiring an additional 129,192 shares in the last quarter. FMR LLC boosted 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 acquiring an additional 537,136 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of American Tower by 66.5% in 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 acquiring an additional 3,421,413 shares during the period. Finally, Norges Bank purchased a new position in American Tower in the 4th quarter valued at approximately $1,164,851,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMT shares. Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Scotiabank lifted their price objective on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research report on Wednesday. Raymond James upped their price target on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research report on Wednesday. JMP Securities raised their price objective on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday. Finally, BMO Capital Markets lifted their target price on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $238.33.

American Tower Stock Up 2.0 %

NYSE AMT traded up $4.34 during trading hours on Wednesday, reaching $225.67. 3,490,758 shares of the company traded hands, compared to its average volume of 2,492,483. The stock has a market capitalization of $105.49 billion, a PE ratio of 95.22, a PEG ratio of 1.29 and a beta of 0.87. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12 month low of $171.50 and a 12 month high of $243.56. The company has a 50 day moving average of $212.54 and a two-hundred day moving average of $202.24.

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

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, April 11th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.01%. This is an increase from American Tower's previous quarterly dividend of $1.62. The ex-dividend date was Friday, April 11th. American Tower's payout ratio is 141.37%.

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.