Mondrian Investment Partners LTD Decreases Stock Position in American Tower Co. (NYSE:AMT)

Mondrian Investment Partners LTD trimmed its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 98.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,641 shares of the real estate investment trust's stock after selling 474,085 shares during the period. Mondrian Investment Partners LTD's holdings in American Tower were worth $1,413,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AMT. FMR LLC lifted its holdings in shares of American Tower by 25.4% during the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust's stock valued at $2,474,934,000 after purchasing an additional 2,152,646 shares during the last quarter. Adelante Capital Management LLC raised its holdings in American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust's stock worth $279,890,000 after acquiring an additional 1,160,890 shares during the last quarter. Raymond James Financial Inc. purchased a new position in American Tower in the 4th quarter worth approximately $193,246,000. Daiwa Securities Group Inc. raised its holdings in American Tower by 456.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust's stock worth $206,269,000 after acquiring an additional 922,701 shares during the last quarter. Finally, State Street Corp raised its holdings in American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust's stock worth $4,924,091,000 after acquiring an additional 635,726 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Morgan Stanley decreased their price objective on shares of American Tower from $219.00 to $213.00 and set an "equal weight" rating for the company in a report on Monday, February 24th. Barclays decreased their price objective on shares of American Tower from $215.00 to $214.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. The Goldman Sachs Group cut their target price on shares of American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Finally, Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, American Tower presently has a consensus rating of "Moderate Buy" and an average price target of $226.29.

American Tower Stock Performance

Shares of AMT stock traded up $3.25 during mid-day trading on Friday, reaching $211.02. 3,788,938 shares of the company's stock traded hands, compared to its average volume of 2,243,301. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm has a 50 day moving average price of $192.33 and a two-hundred day moving average price of $205.82. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $98.64 billion, a PE ratio of 89.04, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (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 company's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 EPS. On average, research analysts forecast 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. Investors of record on Friday, April 11th will be issued a $1.70 dividend. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.22%. This is an increase from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio is currently 141.37%.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the company's stock in a transaction on 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 transaction, the chief financial officer now owns 62,792 shares of the company's stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by insiders.

American Tower 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.