American Tower Co. (NYSE:AMT) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lessened its position in American Tower Co. (NYSE:AMT - Free Report) by 36.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 305,656 shares of the real estate investment trust's stock after selling 174,161 shares during the period. Bessemer Group Inc. owned about 0.07% of American Tower worth $56,061,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Roxbury Financial LLC bought a new stake in shares of American Tower during the 4th quarter valued at about $32,000. Graney & King LLC bought a new position in shares of American Tower in the fourth quarter worth about $32,000. Crowley Wealth Management Inc. bought a new stake in American Tower during the 4th quarter valued at approximately $37,000. Bank of Jackson Hole Trust purchased a new stake in American Tower during the 4th quarter valued at approximately $46,000. Finally, Versant Capital Management Inc lifted 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 worth $48,000 after buying an additional 139 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by insiders.

American Tower Trading Up 1.0 %

Shares of NYSE AMT traded up $2.17 during midday trading on Tuesday, hitting $219.96. The company's stock had a trading volume of 1,839,313 shares, compared to its average volume of 2,457,171. The firm has a market cap of $102.82 billion, a P/E ratio of 92.81, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The business's 50 day moving average is $205.92 and its two-hundred day moving average is $202.56.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower's revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 EPS. As a group, equities research analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a dividend of $1.70 per share. This is a boost from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, April 11th. American Tower's dividend payout ratio is 141.37%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of American Tower from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $210.00 to $230.00 in a report on Monday, March 17th. BMO Capital Markets lifted their target price on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a report 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 for the company. Barclays lifted their price objective on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Finally, Mizuho lowered their target price on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $232.07.

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.