American Tower Co. (NYSE:AMT) Shares Sold by Moore Capital Management LP

Moore Capital Management LP reduced its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 86.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,945 shares of the real estate investment trust's stock after selling 42,829 shares during the quarter. Moore Capital Management LP's holdings in American Tower were worth $1,274,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. grew its stake in shares of American Tower by 17.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 702 shares of the real estate investment trust's stock valued at $129,000 after buying an additional 106 shares during the last quarter. Czech National Bank grew its stake in shares of American Tower by 6.5% during the fourth quarter. Czech National Bank now owns 101,318 shares of the real estate investment trust's stock valued at $18,583,000 after buying an additional 6,169 shares during the last quarter. Fiduciary Alliance LLC grew its stake in shares of American Tower by 188.3% during the fourth quarter. Fiduciary Alliance LLC now owns 4,950 shares of the real estate investment trust's stock valued at $908,000 after buying an additional 3,233 shares during the last quarter. Trust Co. of Toledo NA OH grew its stake in shares of American Tower by 4.9% during the fourth quarter. Trust Co. of Toledo NA OH now owns 8,228 shares of the real estate investment trust's stock valued at $1,509,000 after buying an additional 382 shares during the last quarter. Finally, Brookstone Capital Management grew its stake in shares of American Tower by 29.0% during the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock valued at $1,629,000 after buying an additional 1,995 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Stock Up 0.7%

American Tower stock traded up $1.56 during mid-day trading on Friday, reaching $213.24. 2,812,703 shares of the company were exchanged, compared to its average volume of 2,509,592. The business has a fifty day moving average of $214.87 and a 200 day moving average of $201.63. 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 firm has a market cap of $99.83 billion, a P/E ratio of 89.97, a PEG ratio of 1.29 and a beta of 0.86. American Tower Co. has a 12-month low of $172.51 and a 12-month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS 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 firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the business posted $2.79 EPS. The business's revenue for the quarter was down 9.6% compared to the same quarter last year. Research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm 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 is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.19%. American Tower's dividend payout ratio is presently 174.81%.

Analysts Set New Price Targets

A number of research firms have recently commented on AMT. Wells Fargo & Company upped their target price on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Raymond James increased their price objective on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Morgan Stanley initiated coverage on American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective on the stock. Royal Bank of Canada increased their price objective on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, Citizens Jmp raised American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Two equities research 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. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $239.27.

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.