American Tower Co. (NYSE:AMT) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. cut its holdings in American Tower Co. (NYSE:AMT - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 196,605 shares of the real estate investment trust's stock after selling 8,700 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in American Tower were worth $36,059,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Cohen & Steers Inc. boosted its holdings in shares of 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 valued at $3,516,890,000 after acquiring an additional 3,437,602 shares during the last quarter. Geode Capital Management LLC increased its holdings in American Tower by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock worth $2,074,956,000 after acquiring an additional 129,192 shares in the last quarter. FMR LLC increased its stake in shares of American Tower by 5.0% during the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock worth $2,050,390,000 after purchasing an additional 537,136 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of 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 valued at $1,570,547,000 after acquiring an additional 3,421,413 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of American Tower during the fourth quarter worth approximately $1,164,851,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

AMT has been the topic of a number of recent research reports. Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. JMP Securities started coverage on American Tower in a report on Monday, January 27th. They issued an "outperform" rating and a $225.00 target price for the company. Wells Fargo & Company upgraded 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 report on Monday, March 17th. BMO Capital Markets upped their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Finally, Mizuho dropped their price target on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $233.07.

American Tower Stock Down 0.0 %

Shares of NYSE AMT traded down $0.01 during mid-day trading on Monday, reaching $210.81. The company had a trading volume of 3,390,231 shares, compared to its average volume of 2,489,122. The firm has a 50 day simple moving average of $210.83 and a two-hundred day simple moving average of $202.00. The stock has a market cap of $98.54 billion, a P/E ratio of 88.95, a PEG ratio of 1.29 and a beta of 0.87. American Tower Co. has a 52-week low of $170.46 and a 52-week 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.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm's revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.29 earnings per share. Sell-side analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. This is an increase from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Friday, April 11th. American Tower's payout ratio is currently 141.37%.

American Tower Company 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.