Beacon Pointe Advisors LLC Sells 1,479 Shares of American Tower Co. (NYSE:AMT)

Beacon Pointe Advisors LLC cut its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,076 shares of the real estate investment trust's stock after selling 1,479 shares during the quarter. Beacon Pointe Advisors LLC's holdings in American Tower were worth $3,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AMT. Roxbury Financial LLC bought a new stake in shares of American Tower during the fourth quarter worth about $32,000. Graney & King LLC bought a new stake in American Tower during the 4th quarter worth approximately $32,000. Crowley Wealth Management Inc. bought a new stake in American Tower during the 4th quarter worth approximately $37,000. Bank of Jackson Hole Trust bought a new position in shares of American Tower during the fourth quarter valued at $46,000. Finally, Versant Capital Management Inc lifted its holdings in shares of American Tower by 113.9% during the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 139 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 2.0 %

Shares of American Tower stock opened at $225.67 on Thursday. The stock has a market capitalization of $105.49 billion, a PE ratio of 95.22, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. American Tower Co. has a 52 week low of $171.50 and a 52 week high of $243.56. The stock has a 50 day moving average price of $212.54 and a two-hundred day moving average price of $202.24. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly 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 net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the firm posted $2.79 EPS. American Tower's revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 28th. Investors 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%. 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. American Tower's dividend payout ratio is currently 141.37%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. UBS Group raised their target price on American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday. BMO Capital Markets raised their price objective on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Wells Fargo & Company raised their price target on shares of American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday. Citigroup upped their price objective on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Finally, Scotiabank lifted their target price on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, American Tower has a consensus rating of "Buy" and an average price target of $238.33.

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.

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