IHT Wealth Management LLC Lowers Stake in American Tower Co. (NYSE:AMT)

IHT Wealth Management LLC trimmed its holdings in American Tower Co. (NYSE:AMT - Free Report) by 24.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,385 shares of the real estate investment trust's stock after selling 2,057 shares during the period. IHT Wealth Management LLC's holdings in American Tower were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Fayez Sarofim & Co boosted its stake in American Tower by 16.0% during the 4th quarter. Fayez Sarofim & Co now owns 36,901 shares of the real estate investment trust's stock valued at $6,768,000 after purchasing an additional 5,090 shares during the last quarter. J. Safra Sarasin Holding AG boosted its position in shares of American Tower by 5.2% during the fourth quarter. J. Safra Sarasin Holding AG now owns 131,262 shares of the real estate investment trust's stock valued at $24,075,000 after buying an additional 6,448 shares during the last quarter. Lasalle Investment Management Securities LLC grew its holdings in American Tower by 6.4% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 658,067 shares of the real estate investment trust's stock worth $120,696,000 after buying an additional 39,513 shares in the last quarter. Mirabella Financial Services LLP purchased a new stake in American Tower in the 4th quarter valued at $3,421,000. Finally, MML Investors Services LLC lifted its stake in American Tower by 4.8% during the 4th quarter. MML Investors Services LLC now owns 44,293 shares of the real estate investment trust's stock valued at $8,124,000 after acquiring an additional 2,046 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

Shares of American Tower stock traded up $9.44 during trading hours on Tuesday, reaching $220.74. The company had a trading volume of 1,123,178 shares, compared to its average volume of 2,483,897. The firm has a market cap of $103.19 billion, a PE ratio of 93.16, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. American Tower Co. has a one year low of $170.46 and a one 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 business has a fifty day simple moving average of $211.28 and a 200 day simple moving average of $201.94.

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 analysts' consensus estimates of $2.41 by $0.34. The firm had revenue of $2.56 billion for 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%. The company's revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.79 earnings per share. On average, analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, April 11th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.08%. This is a boost from American Tower's previous quarterly dividend of $1.62. The ex-dividend date was Friday, April 11th. American Tower's payout ratio is presently 141.37%.

Wall Street Analyst Weigh In

Several analysts have recently commented on AMT shares. JMP Securities started coverage on shares of American Tower in a report on Monday, January 27th. They issued an "outperform" rating and a $225.00 target price for the company. Barclays lifted their target price on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Citizens Jmp raised American Tower to a "strong-buy" rating in a report on Monday, January 27th. Morgan Stanley assumed coverage on American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target on the stock. Finally, BMO Capital Markets upped their price objective on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, American Tower currently has a consensus rating of "Buy" and a consensus target price of $233.07.

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.