Mackenzie Financial Corp Sells 271,881 Shares of American Tower Co. (NYSE:AMT)

Mackenzie Financial Corp lessened its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 33.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 545,212 shares of the real estate investment trust's stock after selling 271,881 shares during the period. Mackenzie Financial Corp owned 0.12% of American Tower worth $99,997,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Toronto Dominion Bank raised its stake in American Tower by 7.2% during the 4th quarter. Toronto Dominion Bank now owns 268,712 shares of the real estate investment trust's stock valued at $49,284,000 after purchasing an additional 18,141 shares during the last quarter. Pinney & Scofield Inc. bought a new position in shares of American Tower during the 4th quarter worth about $102,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of American Tower during the 4th quarter worth about $1,610,000. Parr Mcknight Wealth Management Group LLC acquired a new position in shares of American Tower during the fourth quarter valued at about $1,049,000. Finally, Sunbelt Securities Inc. lifted its stake in shares of American Tower by 4.3% in the fourth quarter. Sunbelt Securities Inc. now owns 5,003 shares of the real estate investment trust's stock valued at $910,000 after buying an additional 206 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 0.5%

Shares of AMT traded up $1.12 during trading hours on Thursday, hitting $213.58. 1,790,510 shares of the stock traded hands, compared to its average volume of 2,510,571. The business has a fifty day moving average of $215.09 and a 200-day moving average of $201.93. The firm has a market capitalization of $99.99 billion, a PE ratio of 90.12, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the company posted $2.79 EPS. The company's revenue was down 9.6% compared to the same quarter last year. Analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio is presently 174.81%.

Analyst Ratings Changes

Several brokerages recently issued reports on AMT. UBS Group boosted their price target on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Barclays boosted their price objective on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Hsbc Global Res raised American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Scotiabank boosted their price target on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Finally, JMP Securities increased their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, American Tower 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.