American Tower Co. (NYSE:AMT) Shares Sold by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA decreased its holdings in American Tower Co. (NYSE:AMT - Free Report) by 67.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,606 shares of the real estate investment trust's stock after selling 13,486 shares during the quarter. GLOBALT Investments LLC GA's holdings in American Tower were worth $1,212,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMT. FMR LLC boosted its stake in shares of American Tower by 25.4% during the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust's stock worth $2,474,934,000 after buying an additional 2,152,646 shares during the period. Adelante Capital Management LLC raised its stake in American Tower by 2,723.4% during the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust's stock valued at $279,890,000 after acquiring an additional 1,160,890 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in American Tower during the 4th quarter worth approximately $193,246,000. Daiwa Securities Group Inc. grew its stake in shares of American Tower by 456.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust's stock valued at $206,269,000 after purchasing an additional 922,701 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust's stock valued at $4,924,091,000 after purchasing an additional 635,726 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

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American Tower Trading Up 1.0 %

AMT stock traded up $2.14 on Friday, hitting $216.41. 6,326,073 shares of the company were exchanged, compared to its average volume of 2,271,096. The stock has a market capitalization of $101.16 billion, a price-to-earnings ratio of 91.31, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The business's fifty day moving average is $195.13 and its two-hundred day moving average is $205.66. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

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

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued 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 3.14%. The ex-dividend date of this dividend is Friday, April 11th. American Tower's dividend payout ratio (DPR) is presently 141.37%.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of the company's stock in a transaction 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 sale, the chief financial officer now directly owns 62,792 shares of the company's stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AMT shares. Scotiabank lowered 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 research report on Thursday, January 23rd. Morgan Stanley lowered their target price 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. The Goldman Sachs Group dropped their price target on shares of American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a research note on Thursday, December 12th. Barclays raised their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Wells Fargo & Company raised American Tower from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $210.00 to $230.00 in a research note on Monday. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $229.43.

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.