American Tower Co. (NYSE:AMT) Shares Sold by Land & Buildings Investment Management LLC

Land & Buildings Investment Management LLC lessened its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 35.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,807 shares of the real estate investment trust's stock after selling 34,130 shares during the quarter. American Tower accounts for 2.3% of Land & Buildings Investment Management LLC's portfolio, making the stock its 16th largest position. Land & Buildings Investment Management LLC's holdings in American Tower were worth $11,519,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of American Tower in the fourth quarter worth about $1,164,851,000. Cohen & Steers Inc. raised its holdings in American Tower by 21.8% in the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after purchasing an additional 3,437,602 shares during the period. Capital Research Global Investors boosted its position in American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after purchasing an additional 3,421,413 shares in the last quarter. Capital World Investors grew its holdings in American Tower by 160.6% in the fourth quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust's stock valued at $902,396,000 after purchasing an additional 3,032,005 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of American Tower in the fourth quarter valued at approximately $193,246,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMT has been the topic of a number of recent analyst reports. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Citigroup lifted their target price on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Raymond James upped their price target on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. BMO Capital Markets lifted their price objective on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, JMP Securities increased their target price on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $239.27.

American Tower Trading Up 3.4%

Shares of NYSE AMT traded up $7.05 during midday trading on Thursday, reaching $211.55. 3,115,590 shares of the stock were exchanged, compared to its average volume of 2,510,030. The stock has a market capitalization of $99.03 billion, a P/E ratio of 89.26, a PEG ratio of 1.29 and a beta of 0.86. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a 50 day simple moving average of $214.91 and a 200 day simple moving average of $201.70. 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 posted its 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. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter last year, the firm earned $2.79 earnings per share. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.21%. American Tower's payout ratio is currently 174.81%.

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.