Boothbay Fund Management LLC Trims Stock Holdings in American Tower Co. (NYSE:AMT)

Boothbay Fund Management LLC reduced its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 89.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,353 shares of the real estate investment trust's stock after selling 20,003 shares during the quarter. Boothbay Fund Management LLC's holdings in American Tower were worth $432,000 at the end of the most recent reporting period.

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

American Tower Stock Up 0.2 %

NYSE:AMT traded up $0.35 during trading hours on Monday, hitting $223.95. 1,832,901 shares of the company traded hands, compared to its average volume of 2,478,614. American Tower Co. has a one year low of $172.51 and a one year high of $243.56. 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 company has a market cap of $104.69 billion, a PE ratio of 94.49, a PEG ratio of 1.29 and a beta of 0.86. The firm's 50-day simple moving average is $213.58 and its 200-day simple moving average is $201.88.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 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 firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the business posted $2.79 EPS. The company's revenue for the quarter was down 9.6% on a year-over-year basis. Equities analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, April 11th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Friday, April 11th. This is an increase from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio (DPR) is 174.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AMT shares. BMO Capital Markets boosted 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. Mizuho decreased their price objective on American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Raymond James lifted their target price on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Citigroup raised their price target on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, Scotiabank boosted their price objective on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $239.27.

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.