American Tower Co. (NYSE:AMT) Shares Sold by Integrated Advisors Network LLC

Integrated Advisors Network LLC lowered its stake in American Tower Co. (NYSE:AMT - Free Report) by 17.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,066 shares of the real estate investment trust's stock after selling 2,085 shares during the quarter. Integrated Advisors Network LLC's holdings in American Tower were worth $1,846,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AMT. Partners Group Holding AG raised its holdings in American Tower by 8.3% in the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock valued at $69,438,000 after buying an additional 28,988 shares during the last quarter. TigerOak Management L.L.C. acquired a new position in shares of American Tower during the fourth quarter worth $1,102,000. Aviva PLC grew its stake in shares of American Tower by 13.4% in the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock worth $71,252,000 after purchasing an additional 46,009 shares during the last quarter. LGT Group Foundation increased its holdings in American Tower by 16.9% in the fourth quarter. LGT Group Foundation now owns 42,608 shares of the real estate investment trust's stock valued at $7,815,000 after purchasing an additional 6,165 shares during the period. Finally, Raymond James Financial Inc. bought a new position in American Tower during the 4th quarter worth $193,246,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 0.5%

AMT traded up $1.06 during trading hours on Friday, reaching $214.77. 5,861,516 shares of the company's stock traded hands, compared to its average volume of 2,505,441. 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 firm has a 50-day moving average price of $215.21 and a 200 day moving average price of $202.25. American Tower Co. has a 52-week low of $172.51 and a 52-week high of $243.56. The firm has a market capitalization of $100.54 billion, a PE ratio of 90.62, a PEG ratio of 1.29 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last issued its 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 business had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.79 EPS. As a group, sell-side analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.17%. American Tower's payout ratio is 174.81%.

Analysts Set New Price Targets

A number of analysts have weighed in on AMT shares. BMO Capital Markets lifted 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 lifted their target price on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Citigroup boosted their price target on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Bank of America assumed coverage on shares of American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 price objective for the company. Finally, Morgan Stanley started coverage on shares of American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective for the company. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $240.25.

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.