American Tower Co. (NYSE:AMT) Shares Sold by First Financial Bankshares Inc

First Financial Bankshares Inc lessened its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,438 shares of the real estate investment trust's stock after selling 15,652 shares during the quarter. First Financial Bankshares Inc's holdings in American Tower were worth $23,373,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Vinva Investment Management Ltd increased its stake in American Tower by 5.7% during the 4th quarter. Vinva Investment Management Ltd now owns 26,600 shares of the real estate investment trust's stock valued at $4,839,000 after purchasing an additional 1,439 shares in the last quarter. Xponance Inc. boosted its holdings in shares of American Tower by 2.3% in the 4th quarter. Xponance Inc. now owns 115,244 shares of the real estate investment trust's stock valued at $21,137,000 after acquiring an additional 2,575 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of American Tower in the 4th quarter valued at $9,485,000. Evoke Wealth LLC boosted its holdings in shares of American Tower by 6.9% in the 4th quarter. Evoke Wealth LLC now owns 1,472 shares of the real estate investment trust's stock valued at $272,000 after acquiring an additional 95 shares during the last quarter. Finally, Horizon Investments LLC boosted its holdings in shares of American Tower by 2.2% in the 4th quarter. Horizon Investments LLC now owns 13,137 shares of the real estate investment trust's stock valued at $2,409,000 after acquiring an additional 284 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

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American Tower Trading Up 1.0 %

American Tower stock traded up $2.14 during midday trading on Friday, hitting $216.41. 6,326,073 shares of the stock were exchanged, compared to its average volume of 2,266,564. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The stock has a market capitalization of $101.16 billion, a price-to-earnings ratio of 91.31, a PEG ratio of 1.29 and a beta of 0.85. The stock's 50-day simple moving average is $195.99 and its 200 day simple moving average is $205.24. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same period last year, the business earned $2.29 earnings per share. American Tower's revenue was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, April 11th. 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 3.14%. American Tower's dividend payout ratio (DPR) is currently 141.37%.

Insider Buying and Selling at American Tower

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 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. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. The Goldman Sachs Group dropped their price objective on shares of American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company raised shares of American Tower from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $210.00 to $230.00 in a report on Monday, March 17th. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a report on Monday, January 27th. Scotiabank dropped their price objective on shares of American Tower from $236.00 to $220.00 and set a "sector outperform" rating on the stock in a report on Thursday, January 23rd. Finally, Morgan Stanley lowered their price target on shares of American Tower from $219.00 to $213.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, American Tower currently has an average rating of "Buy" and a consensus price target of $229.43.

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.