Drucker Wealth 3.0 LLC Has $2.08 Million Stake in American Tower Co. (NYSE:AMT)

Drucker Wealth 3.0 LLC lowered its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 13.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,361 shares of the real estate investment trust's stock after selling 1,799 shares during the period. Drucker Wealth 3.0 LLC's holdings in American Tower were worth $2,084,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Minot DeBlois Advisors LLC bought a new stake in shares of American Tower in the 4th quarter worth approximately $29,000. Graney & King LLC acquired a new position in shares of American Tower in the fourth quarter valued at $32,000. Roxbury Financial LLC bought a new position in American Tower in the fourth quarter worth $32,000. Crowley Wealth Management Inc. acquired a new stake in American Tower during the fourth quarter worth $37,000. Finally, 10Elms LLP bought a new stake in American Tower in the 4th quarter valued at $42,000. Institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AMT shares. Citigroup lifted their target price on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Morgan Stanley began coverage on shares of American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target for the company. Bank of America initiated coverage on American Tower in a research note on Monday, May 19th. They issued a "buy" rating and a $255.00 price objective on the stock. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company boosted their price target on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $240.25.

American Tower Price Performance

AMT traded up $1.78 during midday trading on Tuesday, hitting $213.64. The company had a trading volume of 1,839,923 shares, compared to its average volume of 2,513,613. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $100.01 billion, a PE ratio of 90.14, a P/E/G ratio of 1.29 and a beta of 0.86. The firm's 50-day simple moving average is $215.18 and its 200-day simple moving average is $201.78. American Tower Co. has a twelve month low of $172.51 and a twelve month high of $243.56.

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 EPS for the quarter, topping the consensus estimate of $2.41 by $0.34. The company 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%. American Tower's revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.79 EPS. Equities research analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company 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. The ex-dividend date is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.18%. American Tower's dividend payout ratio 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.