American Tower Co. (NYSE:AMT) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 198,405 shares of the real estate investment trust's stock after selling 9,823 shares during the period. Public Employees Retirement System of Ohio's holdings in American Tower were worth $36,389,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Red Door Wealth Management LLC grew its holdings in shares of American Tower by 6.7% during the 4th quarter. Red Door Wealth Management LLC now owns 18,792 shares of the real estate investment trust's stock worth $3,447,000 after purchasing an additional 1,186 shares during the period. Verde Capital Management increased its position in shares of American Tower by 2.7% in the fourth quarter. Verde Capital Management now owns 9,093 shares of the real estate investment trust's stock worth $1,668,000 after acquiring an additional 242 shares in the last quarter. Montecito Bank & Trust raised its stake in shares of American Tower by 44.1% in the 4th quarter. Montecito Bank & Trust now owns 1,301 shares of the real estate investment trust's stock valued at $239,000 after acquiring an additional 398 shares during the period. Brighton Jones LLC lifted its holdings in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after acquiring an additional 2,104 shares in the last quarter. Finally, RFG Advisory LLC boosted its position in American Tower by 13.5% during the 4th quarter. RFG Advisory LLC now owns 8,442 shares of the real estate investment trust's stock worth $1,548,000 after purchasing an additional 1,002 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AMT shares. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Royal Bank of Canada lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. BMO Capital Markets upped their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Scotiabank raised their target price 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. Finally, Barclays boosted their price target on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Two investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $240.25.

American Tower Stock Performance

AMT traded down $1.20 during trading hours on Wednesday, hitting $212.50. 1,787,306 shares of the stock were exchanged, compared to its average volume of 2,510,720. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. 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 simple moving average of $215.16 and a 200-day simple moving average of $201.86. The stock has a market cap of $99.48 billion, a price-to-earnings ratio of 89.66, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share 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 business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the firm earned $2.79 EPS. The company's revenue for the quarter was down 9.6% compared to the same quarter last year. Analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's 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.