American Tower Co. (NYSE:AMT) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc decreased its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 21.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 621,041 shares of the real estate investment trust's stock after selling 170,806 shares during the period. Ensign Peak Advisors Inc owned about 0.13% of American Tower worth $113,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of AMT. Roxbury Financial LLC purchased a new position in shares of American Tower during the 4th quarter valued at $32,000. Graney & King LLC purchased a new position in shares of American Tower during 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 American Tower in the 4th quarter worth $46,000. Finally, Kestra Investment Management LLC purchased a new stake in American Tower in the 4th quarter worth $48,000. Institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

AMT has been the topic of several research analyst reports. Raymond James boosted 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 note on Wednesday, April 30th. UBS Group boosted their price target on shares of American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Citigroup boosted their price target on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. BMO Capital Markets boosted their price target 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, Royal Bank of Canada boosted their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, American Tower has a consensus rating of "Buy" and an average target price of $239.27.

American Tower Trading Down 5.5%

NYSE:AMT traded down $12.16 during mid-day trading on Monday, hitting $207.81. 4,450,799 shares of the stock traded hands, compared to its average volume of 2,488,669. 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 stock has a market capitalization of $97.14 billion, a price-to-earnings ratio of 87.68, a PEG ratio of 1.29 and a beta of 0.86. The firm's 50 day moving average is $215.14 and its two-hundred day moving average is $201.77. American Tower Co. has a 52 week low of $172.51 and a 52 week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced 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. The firm had revenue of $2.56 billion during 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 revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.79 EPS. On average, equities research analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, April 11th were paid a $1.70 dividend. This is a positive change from American Tower's previous quarterly dividend of $1.62. The ex-dividend date of this dividend was Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.27%. American Tower's dividend payout ratio (DPR) is 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.