Centersquare Investment Management LLC Sells 57,259 Shares of American Tower Co. (NYSE:AMT)

Centersquare Investment Management LLC lowered its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 11.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 426,252 shares of the real estate investment trust's stock after selling 57,259 shares during the quarter. Centersquare Investment Management LLC owned approximately 0.09% of American Tower worth $78,179,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Roxbury Financial LLC bought a new position in American Tower in the fourth quarter worth approximately $32,000. Graney & King LLC purchased a new stake in American Tower in the fourth quarter worth about $32,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower during the 3rd quarter valued at about $34,000. Crowley Wealth Management Inc. bought a new position in shares of American Tower during the 4th quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust purchased a new stake in American Tower in the 4th quarter worth approximately $46,000. Institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of analyst reports. Mizuho reduced their price objective on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Barclays raised their price target on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Citigroup upped their price objective on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Citizens Jmp raised American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Finally, Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $232.07.

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Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm'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 transaction, the chief financial officer now owns 62,792 shares of the company's stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company's stock.

American Tower Trading Down 0.2 %

AMT stock traded down $0.47 during midday trading on Wednesday, reaching $204.19. 1,587,007 shares of the company traded hands, compared to its average volume of 2,765,551. The business has a 50 day moving average of $203.37 and a 200-day moving average of $203.37. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The firm has a market capitalization of $95.45 billion, a price-to-earnings ratio of 86.10, a P/E/G ratio of 1.29 and a beta of 0.87. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data 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. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.51 billion. During the same quarter in the previous year, the business posted $2.29 earnings per share. The business's revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently announced 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 represents a $6.80 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from American Tower's previous quarterly dividend of $1.62. American Tower's payout ratio is 141.37%.

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.