American Tower Co. (NYSE:AMT) Shares Sold by Gilder Gagnon Howe & Co. LLC

Gilder Gagnon Howe & Co. LLC cut its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,292 shares of the real estate investment trust's stock after selling 7,374 shares during the quarter. Gilder Gagnon Howe & Co. LLC's holdings in American Tower were worth $11,792,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Glenview Trust co raised its holdings in American Tower by 0.8% during the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock worth $1,294,000 after purchasing an additional 54 shares in the last quarter. CreativeOne Wealth LLC lifted its position in American Tower by 2.1% in the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock valued at $477,000 after acquiring an additional 54 shares during the last quarter. Precedent Wealth Partners LLC lifted its position in American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock valued at $235,000 after acquiring an additional 58 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock valued at $206,000 after acquiring an additional 61 shares during the last quarter. Finally, Calamos Wealth Management LLC lifted its position in American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock valued at $398,000 after acquiring an additional 61 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMT shares. UBS Group boosted their price target on shares of American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. JMP Securities lifted 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. Finally, Scotiabank lifted their price objective on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $238.33.

American Tower Price Performance

American Tower stock traded up $4.34 during mid-day trading on Wednesday, reaching $225.67. The company had a trading volume of 3,490,758 shares, compared to its average volume of 2,492,483. American Tower Co. has a 1 year low of $171.50 and a 1 year high of $243.56. 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 company has a market capitalization of $105.49 billion, a P/E ratio of 95.22, a P/E/G ratio of 1.29 and a beta of 0.87. The stock's 50-day simple moving average is $211.85 and its 200-day simple moving average is $202.07.

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 (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 during the quarter, compared to analysts' expectations of $2.54 billion. During the same period last year, the company posted $2.79 earnings per share. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. On average, equities analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, April 11th were issued a $1.70 dividend. The ex-dividend date was Friday, April 11th. This is a boost from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.01%. American Tower's dividend payout ratio (DPR) is 141.37%.

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.