DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 2,305,410 Shares of American Tower Co. (NYSE:AMT)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main trimmed its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 63.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,302,057 shares of the real estate investment trust's stock after selling 2,305,410 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned 0.28% of American Tower worth $238,810,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Graney & King LLC bought a new position in shares of American Tower in the fourth quarter valued at approximately $32,000. Roxbury Financial LLC bought a new position in American Tower in the 4th quarter valued at $32,000. Crowley Wealth Management Inc. purchased a new position in shares of American Tower during the 4th quarter valued at $37,000. Bank of Jackson Hole Trust purchased a new stake in shares of American Tower in the fourth quarter worth $46,000. Finally, Kestra Investment Management LLC bought a new stake in American Tower during the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMT. JMP Securities boosted 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, April 30th. Barclays increased their target price on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Mizuho cut their price objective on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company raised their price objective on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Finally, Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, American Tower has a consensus rating of "Buy" and an average price target of $239.27.

American Tower Trading Down 2.0 %

NYSE:AMT opened at $219.36 on Thursday. The firm has a market capitalization of $102.54 billion, a P/E ratio of 92.56, a PEG ratio of 1.29 and a beta of 0.86. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a one year low of $172.51 and a one year high of $243.56. The company's 50-day simple moving average is $214.72 and its 200 day simple moving average is $202.14.

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 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the company earned $2.79 EPS. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. As a group, analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, April 11th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.10%. 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 is currently 174.81%.

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.

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