Douglas Lane & Associates LLC Has $79.10 Million Position in American Tower Co. (NYSE:AMT)

Douglas Lane & Associates LLC grew its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 431,261 shares of the real estate investment trust's stock after buying an additional 21,084 shares during the quarter. American Tower accounts for about 1.1% of Douglas Lane & Associates LLC's investment portfolio, making the stock its 25th biggest position. Douglas Lane & Associates LLC owned 0.09% of American Tower worth $79,098,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AMT. Acadian Asset Management LLC raised its stake in American Tower by 1,791.9% in the 2nd quarter. Acadian Asset Management LLC now owns 12,316 shares of the real estate investment trust's stock worth $2,392,000 after acquiring an additional 11,665 shares during the last quarter. Caprock Group LLC raised its holdings in American Tower by 8.2% in the 2nd quarter. Caprock Group LLC now owns 7,527 shares of the real estate investment trust's stock valued at $1,475,000 after buying an additional 569 shares during the period. Koss Olinger Consulting LLC acquired a new position in American Tower in the 2nd quarter valued at about $221,000. Choreo LLC boosted its holdings in American Tower by 240.2% in the second quarter. Choreo LLC now owns 13,797 shares of the real estate investment trust's stock valued at $2,678,000 after purchasing an additional 9,741 shares during the period. Finally, LGT Fund Management Co Ltd. lifted its position in shares of American Tower by 1,747.1% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 60,214 shares of the real estate investment trust's stock worth $11,704,000 after purchasing an additional 56,954 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Up 1.1 %

Shares of American Tower stock traded up $1.98 on Wednesday, hitting $179.15. The company had a trading volume of 2,048,328 shares, compared to its average volume of 2,273,423. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a 50-day moving average of $197.12 and a 200-day moving average of $212.27. The firm has a market capitalization of $83.71 billion, a P/E ratio of 75.59, a P/E/G ratio of 1.31 and a beta of 0.84.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.58 earnings per share. Research analysts predict that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Friday, December 27th. American Tower's dividend payout ratio is presently 273.42%.

Analyst Upgrades and Downgrades

A number of research firms have commented on AMT. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research note on Wednesday. The Goldman Sachs Group cut their price objective 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. StockNews.com lowered shares of American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Barclays decreased their price target on shares of American Tower from $255.00 to $251.00 and set an "overweight" rating for the company in a research report on Monday, November 18th. Finally, Wells Fargo & Company lowered American Tower from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $233.67.

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.