Berkeley Capital Partners LLC Lowers Stock Holdings in American Tower Co. (NYSE:AMT)

Berkeley Capital Partners LLC lessened its holdings in American Tower Co. (NYSE:AMT - Free Report) by 50.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,738 shares of the real estate investment trust's stock after selling 1,783 shares during the quarter. Berkeley Capital Partners LLC's holdings in American Tower were worth $319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AMT. Roxbury Financial LLC acquired a new stake in American Tower during the 4th quarter worth $32,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower during the third quarter worth about $34,000. Activest Wealth Management increased its position in shares of American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 125 shares in the last quarter. Bank of Jackson Hole Trust acquired a new stake in shares of American Tower during the fourth quarter worth about $46,000. Finally, Versant Capital Management Inc boosted its holdings in shares of American Tower by 113.9% in the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust's stock valued at $48,000 after acquiring an additional 139 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the business's stock in a transaction dated 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. The trade was a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JMP Securities started coverage on American Tower in a report on Monday, January 27th. They issued an "outperform" rating and a $225.00 target price on the stock. Wells Fargo & Company upgraded shares of American Tower from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $210.00 to $230.00 in a research note on Monday, March 17th. BMO Capital Markets lifted their target price 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. Morgan Stanley cut their price target 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. Finally, The Goldman Sachs Group lowered their price objective on American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $229.43.

American Tower Price Performance

AMT traded down $3.36 during trading on Tuesday, reaching $209.44. 2,646,635 shares of the stock were exchanged, compared to its average volume of 2,268,344. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a market capitalization of $97.90 billion, a price-to-earnings ratio of 88.37, a P/E/G ratio of 1.29 and a beta of 0.85. The business's 50 day moving average price is $196.71 and its two-hundred day moving average price is $205.10. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the firm earned $2.29 earnings per share. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently declared 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 represents a $6.80 dividend on an annualized basis and a dividend yield of 3.25%. 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. American Tower's payout ratio is 141.37%.

American Tower Company 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.