Mar Vista Investment Partners LLC Sells 163,933 Shares of American Tower Co. (NYSE:AMT)

Mar Vista Investment Partners LLC cut its stake in American Tower Co. (NYSE:AMT - Free Report) by 53.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,512 shares of the real estate investment trust's stock after selling 163,933 shares during the period. American Tower makes up about 1.8% of Mar Vista Investment Partners LLC's portfolio, making the stock its 28th biggest holding. Mar Vista Investment Partners LLC's holdings in American Tower were worth $25,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Glenview Trust co boosted its stake in American Tower by 0.8% during the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock valued at $1,294,000 after buying an additional 54 shares during the period. CreativeOne Wealth LLC increased its position in shares of American Tower by 2.1% in the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock worth $477,000 after purchasing an additional 54 shares during the last quarter. Precedent Wealth Partners LLC raised its stake in American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock valued at $235,000 after purchasing an additional 58 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in shares of American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock worth $206,000 after acquiring an additional 61 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its position in American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock worth $398,000 after acquiring an additional 61 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised American Tower from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $210.00 to $230.00 in a research note on Monday, March 17th. Citigroup raised their price objective on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. JMP Securities began coverage on American Tower in a research note on Monday, January 27th. They issued an "outperform" rating and a $225.00 price target on the stock. Scotiabank reaffirmed an "outperform" rating on shares of American Tower in a research note on Tuesday, April 22nd. Finally, Barclays raised their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Two equities 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 data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $233.07.

American Tower Stock Down 0.1 %

American Tower stock traded down $0.12 during mid-day trading on Monday, hitting $210.70. The company had a trading volume of 1,285,431 shares, compared to its average volume of 2,480,945. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. 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's 50 day moving average price is $210.83 and its two-hundred day moving average price is $202.00. The company has a market capitalization of $98.49 billion, a PE ratio of 88.89, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower's revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $2.29 EPS. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.23%. This is an increase from American Tower's previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. American Tower's dividend payout ratio (DPR) is presently 141.37%.

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.