American Tower Co. (NYSE:AMT) Stock Holdings Trimmed by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its stake in American Tower Co. (NYSE:AMT - Free Report) by 14.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,471 shares of the real estate investment trust's stock after selling 10,060 shares during the period. Wedge Capital Management L L P NC's holdings in American Tower were worth $12,506,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Cohen & Steers Inc. boosted its position in shares of American Tower by 21.8% in the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after buying an additional 3,437,602 shares during the period. Geode Capital Management LLC grew its holdings in American Tower by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock valued at $2,074,956,000 after purchasing an additional 129,192 shares in the last quarter. FMR LLC grew its holdings in American Tower by 5.0% during the 4th quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock valued at $2,050,390,000 after purchasing an additional 537,136 shares in the last quarter. Capital Research Global Investors grew its holdings in American Tower by 66.5% during the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock valued at $1,570,547,000 after purchasing an additional 3,421,413 shares in the last quarter. Finally, Norges Bank acquired a new stake in American Tower during the 4th quarter valued at $1,164,851,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

AMT has been the subject of a number of recent analyst reports. Scotiabank raised 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. Bank of America began coverage on American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price target for the company. Morgan Stanley began coverage on American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price target for the company. Royal Bank of Canada increased their price target on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Barclays increased their price target on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $240.25.

American Tower Stock Performance

Shares of American Tower stock traded up $1.70 during trading hours on Tuesday, reaching $214.53. The company's stock had a trading volume of 1,624,996 shares, compared to its average volume of 2,495,469. The company's 50 day simple moving average is $215.00 and its 200 day simple moving average is $202.85. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a one year low of $172.51 and a one year high of $243.56. The stock has a market cap of $100.43 billion, a P/E ratio of 90.52, a price-to-earnings-growth ratio of 1.29 and a beta of 0.81.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.34. The business had revenue of $2.56 billion for 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 business's revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the business posted $2.79 EPS. As a group, analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

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 issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's dividend payout ratio (DPR) is 174.81%.

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.