United Capital Financial Advisors LLC lessened its position in American Tower Co. (NYSE:AMT - Free Report) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,359 shares of the real estate investment trust's stock after selling 2,672 shares during the quarter. United Capital Financial Advisors LLC's holdings in American Tower were worth $22,442,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Cohen & Steers Inc. boosted its position in American Tower by 21.8% in the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock valued at $3,516,890,000 after buying an additional 3,437,602 shares during the period. Geode Capital Management LLC boosted its stake in American Tower by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock valued at $2,074,956,000 after acquiring an additional 129,192 shares in the last quarter. FMR LLC increased its position in American Tower by 5.0% during the 4th quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock valued at $2,050,390,000 after buying an additional 537,136 shares in the last quarter. Norges Bank acquired a new position in shares of American Tower during the fourth quarter valued at about $1,164,851,000. Finally, Invesco Ltd. raised its holdings in shares of American Tower by 8.3% in the fourth quarter. Invesco Ltd. now owns 5,941,586 shares of the real estate investment trust's stock worth $1,089,746,000 after buying an additional 455,225 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.
American Tower Stock Up 2.3 %
AMT traded up $5.03 on Friday, reaching $223.03. The company's stock had a trading volume of 2,599,002 shares, compared to its average volume of 2,462,756. 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 Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The stock has a 50 day moving average of $207.73 and a two-hundred day moving average of $202.71. The company has a market capitalization of $104.26 billion, a price-to-earnings ratio of 94.10, a P/E/G ratio of 1.29 and a beta of 0.87.
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, beating the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the firm posted $2.29 earnings per share. American Tower's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.
American Tower Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a dividend of $1.70 per share. This is an increase from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.05%. The ex-dividend date is Friday, April 11th. American Tower's dividend payout ratio (DPR) is presently 141.37%.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Hsbc Global Res raised American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Wells Fargo & Company raised shares of American Tower from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. BMO Capital Markets upped their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Scotiabank decreased their target price on shares of American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a research report on Thursday, January 23rd. Finally, Citigroup raised their price objective 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. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $232.07.
Check Out Our Latest Report on American Tower
About American Tower
(
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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