American Tower Co. (NYSE:AMT) Shares Sold by Hutner Capital Management Inc.

Hutner Capital Management Inc. lessened its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 55.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,347 shares of the real estate investment trust's stock after selling 2,876 shares during the quarter. Hutner Capital Management Inc.'s holdings in American Tower were worth $431,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. South Plains Financial Inc. acquired a new position in shares of American Tower in the 4th quarter valued at $100,000. Mercer Global Advisors Inc. ADV boosted its stake in shares of American Tower by 13.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 36,764 shares of the real estate investment trust's stock worth $6,743,000 after buying an additional 4,462 shares during the period. Keel Point LLC grew its holdings in shares of American Tower by 5.9% during the fourth quarter. Keel Point LLC now owns 2,191 shares of the real estate investment trust's stock worth $402,000 after buying an additional 122 shares during the last quarter. FAS Wealth Partners Inc. lifted its position in American Tower by 3.7% during the 4th quarter. FAS Wealth Partners Inc. now owns 11,246 shares of the real estate investment trust's stock worth $2,063,000 after acquiring an additional 406 shares during the period. Finally, LGT Financial Advisors LLC purchased a new position in shares of American Tower in the 4th quarter valued at approximately $105,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMT. 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. JMP Securities increased their price target on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 30th. Morgan Stanley assumed coverage on American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective on the stock. Wells Fargo & Company increased their target price on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Finally, Citizens Jmp raised American Tower to a "strong-buy" rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, American Tower presently has a consensus rating of "Buy" and an average price target of $239.27.

American Tower Trading Up 0.1 %

Shares of American Tower stock traded up $0.32 during mid-day trading on Tuesday, hitting $224.19. 1,565,623 shares of the stock were exchanged, compared to its average volume of 2,474,977. 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 stock has a market capitalization of $104.80 billion, a price-to-earnings ratio of 94.59, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The company has a 50-day simple moving average of $214.04 and a 200 day simple moving average of $201.87. American Tower Co. has a twelve month low of $172.51 and a twelve month high of $243.56.

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. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower's revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 earnings per share. Research analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, April 11th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Friday, April 11th. This is an increase from American Tower's previous quarterly dividend of $1.62. 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.