Duff & Phelps Investment Management Co. Grows Stock Position in American Tower Co. (NYSE:AMT)

Duff & Phelps Investment Management Co. boosted its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 4.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,020,151 shares of the real estate investment trust's stock after buying an additional 43,008 shares during the period. American Tower makes up approximately 2.7% of Duff & Phelps Investment Management Co.'s holdings, making the stock its 3rd biggest holding. Duff & Phelps Investment Management Co. owned 0.22% of American Tower worth $220,230,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Alera Investment Advisors LLC grew its stake in shares of American Tower by 1.3% during the 4th quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust's stock worth $886,000 after acquiring an additional 51 shares in the last quarter. First Business Financial Services Inc. lifted its position in American Tower by 1.3% during the 3rd quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust's stock worth $705,000 after buying an additional 55 shares in the last quarter. Northcape Wealth Management LLC boosted its stake in shares of American Tower by 0.5% during the 3rd quarter. Northcape Wealth Management LLC now owns 10,521 shares of the real estate investment trust's stock worth $1,730,000 after buying an additional 56 shares during the last quarter. Augustine Asset Management Inc. increased its position in shares of American Tower by 0.8% in the fourth quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust's stock valued at $1,531,000 after acquiring an additional 56 shares during the last quarter. Finally, Choreo LLC raised its holdings in American Tower by 1.4% during the fourth quarter. Choreo LLC now owns 4,269 shares of the real estate investment trust's stock worth $922,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley boosted their price target on American Tower from $183.00 to $196.00 and gave the stock an "equal weight" rating in a research report on Monday, April 15th. Barclays increased their price target on shares of American Tower from $224.00 to $234.00 and gave the company an "overweight" rating in a research note on Tuesday, March 5th. StockNews.com lowered shares of American Tower from a "buy" rating to a "hold" rating in a research note on Friday, March 1st. BMO Capital Markets reduced their price target on American Tower from $235.00 to $228.00 and set an "outperform" rating for the company in a report on Wednesday, February 28th. Finally, Mizuho began coverage on American Tower in a research note on Monday, April 8th. They issued a "neutral" rating and a $205.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, American Tower currently has a consensus rating of "Moderate Buy" and an average price target of $217.36.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 11,510 shares of the firm's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares of the company's stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the company's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rodney M. Smith sold 11,510 shares of the firm's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

American Tower Stock Performance

Shares of NYSE:AMT traded up $3.37 on Monday, reaching $175.06. 2,113,991 shares of the company's stock were exchanged, compared to its average volume of 2,418,816. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The company has a fifty day moving average of $190.05 and a 200-day moving average of $194.49. The company has a market capitalization of $81.64 billion, a price-to-earnings ratio of 55.05, a PEG ratio of 1.36 and a beta of 0.67.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $2.10 by ($1.16). The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $2.34 EPS. On average, research analysts predict that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.70%. American Tower's dividend payout ratio is currently 203.77%.

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.

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