Gabelli Funds LLC trimmed its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 105,110 shares of the real estate investment trust's stock after selling 3,640 shares during the quarter. Gabelli Funds LLC's holdings in American Tower were worth $19,278,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Partners Group Holding AG raised its stake in American Tower by 8.3% during the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock worth $69,438,000 after acquiring an additional 28,988 shares in the last quarter. Nordea Investment Management AB boosted 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 valued at $260,743,000 after buying an additional 314,769 shares in the last quarter. TigerOak Management L.L.C. bought a new stake in shares of American Tower during the fourth quarter worth $1,102,000. Brookstone Capital Management increased its holdings 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 worth $1,629,000 after buying 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 acquiring an additional 22,523 shares during the last quarter. Institutional investors own 92.69% of the company's stock.
American Tower Trading Down 1.1 %
Shares of NYSE:AMT traded down $2.56 during mid-day trading on Monday, hitting $220.10. The company had a trading volume of 586,737 shares, compared to its average volume of 2,454,036. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The firm has a fifty day moving average price of $208.33 and a 200 day moving average price of $202.26. The company has a market capitalization of $102.89 billion, a PE ratio of 92.87, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87.
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 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion for 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%. The business's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.29 earnings per share. As a group, research analysts forecast that American Tower Co. will post 10.14 EPS for the current year.
American Tower Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. This is an increase from American Tower's previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.09%. American Tower's payout ratio is currently 141.37%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. JMP Securities assumed 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. Scotiabank lowered their price objective on American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company raised shares of American Tower from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $210.00 to $230.00 in a report on Monday, March 17th. Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a report on Monday, January 27th. Finally, Mizuho lowered their target price on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Two 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $232.07.
Read Our Latest Analysis on AMT
American Tower Profile
(
Free Report)
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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