Kovitz Investment Group Partners LLC Has $7.91 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Kovitz Investment Group Partners LLC trimmed its holdings in American Tower Co. (NYSE:AMT - Free Report) by 49.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,135 shares of the real estate investment trust's stock after selling 42,681 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in American Tower were worth $7,911,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Partners Group Holding AG increased its holdings in shares of American Tower by 8.3% in the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock valued at $69,438,000 after buying an additional 28,988 shares in the last quarter. Nordea Investment Management AB raised its position in shares of American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust's stock worth $260,743,000 after purchasing an additional 314,769 shares during the period. TigerOak Management L.L.C. purchased a new stake in shares of American Tower during the fourth quarter valued at $1,102,000. Brookstone Capital Management increased its stake in American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock worth $1,629,000 after purchasing an additional 1,995 shares in the last quarter. Finally, Aviva PLC lifted its stake in American Tower by 13.4% during the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock valued at $71,252,000 after buying an additional 46,009 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AMT shares. Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Citigroup lifted their target price on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Scotiabank boosted 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 report on Wednesday. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Finally, Raymond James upped their target price on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $239.27.

American Tower Price Performance

Shares of American Tower stock traded down $1.08 during mid-day trading on Thursday, reaching $224.33. 2,251,470 shares of the stock were exchanged, compared to its average volume of 2,491,530. American Tower Co. has a fifty-two week low of $171.50 and a fifty-two week high of $243.56. The company has a market cap of $104.86 billion, a price-to-earnings ratio of 94.65, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The firm has a 50-day simple moving average of $212.54 and a 200 day simple moving average of $202.24. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT - Get Free Report) last posted 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 company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower's quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.79 earnings per share. On average, sell-side analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently declared 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 is an increase from American Tower's previous quarterly dividend of $1.62. The ex-dividend date of this dividend was Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.03%. American Tower's dividend payout ratio 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.