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

Capital Square LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 22.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,059 shares of the real estate investment trust's stock after selling 3,553 shares during the period. American Tower accounts for about 1.3% of Capital Square LLC's portfolio, making the stock its 16th largest position. Capital Square LLC's holdings in American Tower were worth $2,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMT. Norges Bank acquired a new stake in American Tower in the 4th quarter worth approximately $1,164,851,000. Cohen & Steers Inc. raised its holdings in shares of American Tower by 21.8% during the fourth 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 acquiring an additional 3,437,602 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in American Tower in the 4th quarter valued at $193,246,000. Daiwa Securities Group Inc. raised its holdings in shares of American Tower by 456.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust's stock worth $206,269,000 after acquiring an additional 922,701 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of American Tower by 16.8% during the 4th quarter. Franklin Resources Inc. now owns 5,164,905 shares of the real estate investment trust's stock valued at $947,295,000 after acquiring an additional 742,632 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Performance

Shares of AMT stock traded up $5.03 during mid-day trading on Friday, hitting $223.03. The stock had a trading volume of 2,599,002 shares, compared to its average volume of 2,461,130. 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 firm has a market cap of $104.26 billion, a PE ratio of 94.10, a PEG ratio of 1.29 and a beta of 0.87. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company's 50-day simple moving average is $208.33 and its 200-day simple moving average is $202.44.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the company posted $2.29 earnings per share. American Tower's quarterly revenue was up 3.7% on a year-over-year basis. Sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors 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 dividend yield of 3.05%. The ex-dividend date is Friday, April 11th. American Tower's payout ratio is currently 141.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. JMP Securities began coverage on American Tower in a research note on Monday, January 27th. They set an "outperform" rating and a $225.00 target price for the company. Morgan Stanley initiated coverage on American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective for the company. BMO Capital Markets upped their price objective on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company upgraded shares of American Tower from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $210.00 to $230.00 in a research note on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, American Tower currently has an average rating of "Buy" and an average price target of $232.07.

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.