BROOKFIELD Corp ON Reduces Stake in American Tower Co. (NYSE:AMT)

BROOKFIELD Corp ON decreased its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 55.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 319,110 shares of the real estate investment trust's stock after selling 391,615 shares during the quarter. BROOKFIELD Corp ON owned about 0.07% of American Tower worth $58,528,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP raised its holdings in shares of American Tower by 146.5% during the 4th quarter. Brevan Howard Capital Management LP now owns 12,966 shares of the real estate investment trust's stock worth $2,378,000 after acquiring an additional 7,706 shares during the period. Bridgefront Capital LLC raised its stake in American Tower by 377.8% during the fourth quarter. Bridgefront Capital LLC now owns 6,713 shares of the real estate investment trust's stock worth $1,231,000 after purchasing an additional 5,308 shares during the period. Cary Street Partners Financial LLC acquired a new position in American Tower in the 4th quarter valued at about $3,027,000. Chapman Financial Group LLC purchased a new stake in shares of American Tower in the 4th quarter valued at approximately $1,204,000. Finally, Benchstone Capital Management LP acquired a new stake in shares of American Tower during the 4th quarter worth approximately $40,366,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AMT shares. Mizuho lowered their price objective on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Raymond James boosted their price objective on shares of American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. BMO Capital Markets increased their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Finally, Scotiabank boosted their price target on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. Two 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 company. According to MarketBeat, American Tower presently has a consensus rating of "Buy" and a consensus target price of $239.27.

American Tower Stock Down 0.8 %

Shares of NYSE:AMT traded down $1.73 during trading on Thursday, hitting $217.76. The company's stock had a trading volume of 3,007,489 shares, compared to its average volume of 2,483,851. The company has a market capitalization of $101.79 billion, a PE ratio of 91.88, a P/E/G ratio of 1.29 and a beta of 0.86. 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 Co. has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The business has a 50 day moving average price of $214.88 and a two-hundred day moving average price of $202.11.

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 earnings per share for the quarter, topping 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 company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the business earned $2.79 EPS. American Tower's revenue was down 9.6% on a year-over-year basis. As a group, research analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Shareholders 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 an increase from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.12%. American Tower's dividend payout ratio is currently 174.81%.

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.