Advisory Services Network LLC Sells 4,973 Shares of American Tower Co. (NYSE:AMT)

Advisory Services Network LLC cut its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 14.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,345 shares of the real estate investment trust's stock after selling 4,973 shares during the period. Advisory Services Network LLC's holdings in American Tower were worth $5,382,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Partners Group Holding AG grew its stake in shares of American Tower by 8.3% in the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock valued at $69,438,000 after buying an additional 28,988 shares in the last quarter. Nordea Investment Management AB grew its position in American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust's stock worth $260,743,000 after acquiring an additional 314,769 shares in the last quarter. TigerOak Management L.L.C. acquired a new position in shares of American Tower during the 4th quarter worth $1,102,000. Brookstone Capital Management raised its holdings in shares of American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock valued at $1,629,000 after purchasing an additional 1,995 shares in the last quarter. Finally, CCLA Investment Management lifted its stake in shares of American Tower by 5.5% in the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust's stock valued at $79,344,000 after purchasing an additional 22,523 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BMO Capital Markets raised their target price on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Barclays increased their price target on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Mizuho reduced their price objective 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. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a report on Monday, January 27th. Finally, Scotiabank dropped their target price on shares of American Tower from $236.00 to $220.00 and set a "sector outperform" rating on the stock in a report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $232.07.

American Tower Price Performance

AMT traded up $1.97 during midday trading on Tuesday, reaching $219.76. 1,727,340 shares of the company's stock were exchanged, compared to its average volume of 2,456,747. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The firm has a market capitalization of $102.73 billion, a price-to-earnings ratio of 92.73, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The business has a 50-day simple moving average of $205.92 and a two-hundred day simple moving average of $202.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

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 (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the company posted $2.29 earnings per share. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, research analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.09%. This is a boost from American Tower's previous quarterly dividend of $1.62. American Tower's payout ratio is 141.37%.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

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.