Federated Hermes Inc. Reduces Stock Position in American Tower Co. (NYSE:AMT)

Federated Hermes Inc. decreased its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 30.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 504,183 shares of the real estate investment trust's stock after selling 222,873 shares during the period. Federated Hermes Inc. owned approximately 0.11% of American Tower worth $92,472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Roxbury Financial LLC purchased a new stake in shares of American Tower in the fourth quarter valued at approximately $32,000. Graney & King LLC bought a new position in shares of 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 valued at $34,000. Crowley Wealth Management Inc. purchased a new stake in American Tower in the fourth quarter worth about $37,000. Finally, Bank of Jackson Hole Trust purchased a new position in American Tower during the 4th quarter valued at about $46,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The stock was 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 in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have issued reports on AMT shares. BMO Capital Markets increased their target price on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Mizuho decreased their price target on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Morgan Stanley initiated coverage on shares of American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price objective for the company. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a report on Monday, January 27th. Finally, Citigroup increased their price objective on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $232.07.

American Tower Stock Performance

American Tower stock traded up $4.93 during mid-day trading on Friday, hitting $213.25. The company had a trading volume of 2,555,413 shares, compared to its average volume of 2,466,286. 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 company has a market capitalization of $99.69 billion, a price-to-earnings ratio of 89.98, a P/E/G ratio of 1.29 and a beta of 0.87. The company's fifty day moving average is $205.31 and its 200-day moving average is $202.85. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last issued 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 net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the firm posted $2.29 earnings per share. The company's revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.19%. This is an increase from American Tower's previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. American Tower's dividend payout ratio is presently 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.