Kelly Lawrence W & Associates Inc. CA trimmed its position in American Tower Co. (NYSE:AMT - Free Report) by 96.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,720 shares of the real estate investment trust's stock after selling 49,439 shares during the quarter. Kelly Lawrence W & Associates Inc. CA's holdings in American Tower were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in AMT. Lasalle Investment Management Securities LLC grew its stake in shares of American Tower by 6.4% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 658,067 shares of the real estate investment trust's stock valued at $120,696,000 after purchasing an additional 39,513 shares during the period. Mirabella Financial Services LLP acquired a new stake in American Tower during the 4th quarter valued at $3,421,000. MML Investors Services LLC boosted its stake in American Tower by 4.8% in the fourth quarter. MML Investors Services LLC now owns 44,293 shares of the real estate investment trust's stock worth $8,124,000 after purchasing an additional 2,046 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of American Tower by 1.1% during the fourth quarter. MetLife Investment Management LLC now owns 144,257 shares of the real estate investment trust's stock worth $26,458,000 after purchasing an additional 1,545 shares during the last quarter. Finally, Natixis acquired a new stake in shares of American Tower in the fourth quarter valued at $27,251,000. 92.69% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on AMT shares. Citigroup boosted their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Barclays lifted their price objective on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Wells Fargo & Company upgraded shares of American Tower from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $210.00 to $230.00 in a research report on Monday, March 17th. Mizuho cut their price objective on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Finally, Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Two investment 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. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $233.07.
Check Out Our Latest Report on AMT
American Tower Stock Down 3.8 %
Shares of AMT traded down $8.38 on Wednesday, hitting $212.59. The company's stock had a trading volume of 7,045,949 shares, compared to its average volume of 2,480,529. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $99.38 billion, a price-to-earnings ratio of 89.70, a P/E/G ratio of 1.29 and a beta of 0.87. The firm's fifty day moving average price is $209.52 and its 200-day moving average price is $202.35. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.
American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping 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 return on equity of 22.01% and a net margin of 10.05%. The business's revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.29 EPS. On average, equities research analysts expect that American Tower Co. will post 10.14 EPS for the current year.
American Tower Increases Dividend
The business 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 $1.70 dividend. This is a boost 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 3.20%. American Tower's dividend payout ratio (DPR) is presently 141.37%.
American Tower Company 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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