Mattson Financial Services LLC Lowers Position in American Tower Co. (NYSE:AMT)

Mattson Financial Services LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 30.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,216 shares of the real estate investment trust's stock after selling 1,860 shares during the quarter. Mattson Financial Services LLC's holdings in American Tower were worth $773,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Phocas Financial Corp. acquired a new position in American Tower during the fourth quarter worth about $349,000. Probity Advisors Inc. increased its stake in shares of American Tower by 4.6% in the fourth quarter. Probity Advisors Inc. now owns 2,090 shares of the real estate investment trust's stock valued at $383,000 after buying an additional 91 shares during the period. Copley Financial Group Inc. increased its stake in shares of American Tower by 4.8% in the fourth quarter. Copley Financial Group Inc. now owns 2,182 shares of the real estate investment trust's stock valued at $400,000 after buying an additional 99 shares during the period. Siemens Fonds Invest GmbH increased its stake in shares of American Tower by 7.3% in the fourth quarter. Siemens Fonds Invest GmbH now owns 21,425 shares of the real estate investment trust's stock valued at $3,898,000 after buying an additional 1,453 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of American Tower in the fourth quarter valued at approximately $88,356,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Scotiabank upped their price objective on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. Royal Bank of Canada upped their price objective on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. JMP Securities upped their price objective on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research note on Wednesday, April 30th. Barclays upped their price objective on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Finally, Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a report on Thursday, February 27th. 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $240.25.

American Tower Trading Up 0.5%

Shares of American Tower stock traded up $1.06 on Friday, reaching $214.77. 5,861,516 shares of the company's stock were exchanged, compared to its average volume of 2,524,765. The company has a market capitalization of $100.54 billion, a P/E ratio of 90.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. American Tower Co. has a 52 week low of $172.51 and a 52 week high of $243.56. The firm's 50-day moving average is $215.21 and its two-hundred day moving average is $202.20. 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 (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 (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion for 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%. American Tower's quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the business earned $2.79 EPS. Sell-side analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

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