Man Group plc Has $14.30 Million Stake in American Tower Co. (NYSE:AMT)

Man Group plc trimmed its stake in American Tower Co. (NYSE:AMT - Free Report) by 15.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,983 shares of the real estate investment trust's stock after selling 14,342 shares during the period. Man Group plc's holdings in American Tower were worth $14,303,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower during the 4th quarter worth approximately $29,000. Graney & King LLC acquired a new position in shares of American Tower in the 4th quarter valued at $32,000. Roxbury Financial LLC bought a new position in shares of American Tower during the 4th quarter worth about $32,000. Crowley Wealth Management Inc. bought a new stake in American Tower in the fourth quarter valued at about $37,000. Finally, Bank of Jackson Hole Trust bought a new position in American Tower during the fourth quarter worth about $46,000. Institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

Shares of NYSE:AMT traded up $0.32 during trading on Tuesday, reaching $215.45. 1,755,888 shares of the stock were exchanged, compared to its average volume of 2,507,987. American Tower Co. has a 12 month low of $172.51 and a 12 month high of $243.56. The stock has a 50-day moving average price of $215.11 and a 200-day moving average price of $201.49. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $100.86 billion, a PE ratio of 90.91, a PEG ratio of 1.29 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period in the prior year, the firm posted $2.79 EPS. The company's revenue for the quarter was down 9.6% on a year-over-year basis. Research analysts expect 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 paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio (DPR) is currently 174.81%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America began coverage on American Tower in a research note on Monday. They issued a "buy" rating and a $255.00 price target on the stock. Citizens Jmp raised American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. 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 objective on the stock. Finally, UBS Group increased their price target on American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $240.25.

American Tower Company 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.