American Tower Co. (NYSE:AMT) Shares Sold by Signaturefd LLC

Signaturefd LLC reduced its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 19.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,465 shares of the real estate investment trust's stock after selling 1,539 shares during the quarter. Signaturefd LLC's holdings in American Tower were worth $1,186,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB lifted 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 buying an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in American Tower in the third quarter worth $1,156,000. TigerOak Management L.L.C. bought a new stake in American Tower in the fourth quarter worth $1,102,000. Brookstone Capital Management lifted its position in American Tower by 29.0% in 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 during the last quarter. Finally, CCLA Investment Management lifted its position in American Tower by 5.5% in the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust's stock worth $79,344,000 after buying an additional 22,523 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Up 1.0 %

AMT traded up $2.14 on Friday, hitting $216.41. The company had a trading volume of 6,326,073 shares, compared to its average volume of 2,267,826. The stock has a fifty day moving average price of $195.99 and a 200-day moving average price of $205.61. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. 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 stock has a market capitalization of $101.16 billion, a price-to-earnings ratio of 91.31, a P/E/G ratio of 1.29 and a beta of 0.85.

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American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.83. The business 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 company's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $2.29 earnings per share. Analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Friday, April 11th. This is an increase from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio (DPR) is currently 141.37%.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company's stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AMT shares. Citigroup raised their price target on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Scotiabank reduced their target price on American Tower from $236.00 to $220.00 and set a "sector outperform" rating on the stock in a research note on Thursday, January 23rd. BMO Capital Markets increased their target price on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. JMP Securities started coverage on American Tower in a research note on Monday, January 27th. They set an "outperform" rating and a $225.00 price target on the stock. Finally, Citizens Jmp upgraded American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, American Tower currently has an average rating of "Buy" and a consensus price target of $229.43.

About American Tower

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.