Glen Eagle Advisors LLC Sells 1,227 Shares of American Tower Co. (NYSE:AMT)

Glen Eagle Advisors LLC lowered its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 12.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,915 shares of the real estate investment trust's stock after selling 1,227 shares during the period. Glen Eagle Advisors LLC's holdings in American Tower were worth $1,635,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Assenagon Asset Management S.A. raised its stake in American Tower by 1.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 17,107 shares of the real estate investment trust's stock valued at $3,138,000 after acquiring an additional 250 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in American Tower by 11.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,070 shares of the real estate investment trust's stock valued at $563,000 after acquiring an additional 305 shares during the period. Merit Financial Group LLC raised its stake in American Tower by 184.6% in the 4th quarter. Merit Financial Group LLC now owns 6,874 shares of the real estate investment trust's stock valued at $1,261,000 after acquiring an additional 4,459 shares during the period. LVW Advisors LLC raised its stake in American Tower by 76.9% in the 4th quarter. LVW Advisors LLC now owns 2,745 shares of the real estate investment trust's stock valued at $504,000 after acquiring an additional 1,193 shares during the period. Finally, Transform Wealth LLC raised its stake in American Tower by 22.7% in the 4th quarter. Transform Wealth LLC now owns 1,295 shares of the real estate investment trust's stock valued at $240,000 after acquiring an additional 240 shares during the period. Institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on AMT shares. Barclays increased their price objective on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Royal Bank of Canada increased their price objective on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. JMP Securities increased their price objective on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company increased their price objective on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $240.25.

American Tower Price Performance

American Tower stock opened at $215.45 on Wednesday. The stock's 50 day moving average is $215.27 and its 200 day moving average is $201.59. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $100.86 billion, a P/E ratio of 90.91, a P/E/G ratio of 1.29 and a beta of 0.86. American Tower Co. has a one year low of $172.51 and a one year high of $243.56.

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 analysts' consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.79 earnings per share. As a group, research analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.16%. 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.

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