Logan Capital Management Inc. Has $748,000 Stock Position in American Tower Co. (NYSE:AMT)

Logan Capital Management Inc. lessened its holdings in American Tower Co. (NYSE:AMT - Free Report) by 42.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,079 shares of the real estate investment trust's stock after selling 3,000 shares during the period. Logan Capital Management Inc.'s holdings in American Tower were worth $748,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of AMT. Graney & King LLC acquired a new stake in shares of American Tower during the 4th quarter worth approximately $32,000. Roxbury Financial LLC purchased a new position in shares of American Tower in the fourth quarter valued at approximately $32,000. Crowley Wealth Management Inc. purchased a new stake in shares of American Tower during the fourth quarter worth $37,000. Bank of Jackson Hole Trust acquired a new stake in American Tower in the 4th quarter valued at about $46,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of American Tower in the 4th quarter valued at approximately $48,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on AMT shares. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Raymond James upped their price target on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Scotiabank increased their target price on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. Finally, Citigroup lifted their price target on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, American Tower currently has an average rating of "Buy" and an average price target of $239.27.

American Tower Stock Up 0.7%

AMT traded up $1.56 during midday trading on Friday, hitting $213.24. 2,812,703 shares of the company's stock traded hands, compared to its average volume of 2,510,020. 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 cap of $99.83 billion, a PE ratio of 89.97, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The stock's fifty day simple moving average is $214.87 and its 200-day simple moving average is $201.63. American Tower Co. has a one year low of $172.51 and a one year 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 for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the company earned $2.79 earnings per share. The business's revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.19%. American Tower's payout ratio is 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.