Haverford Trust Co Has $32.96 Million Holdings in American Tower Co. (NYSE:AMT)

Haverford Trust Co trimmed its holdings in American Tower Co. (NYSE:AMT - Free Report) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 179,729 shares of the real estate investment trust's stock after selling 7,873 shares during the period. Haverford Trust Co's holdings in American Tower were worth $32,964,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AMT. Partners Group Holding AG boosted its holdings in American Tower by 8.3% in the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock worth $69,438,000 after purchasing an additional 28,988 shares in the last quarter. Nordea Investment Management AB grew its holdings in American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust's stock valued at $260,743,000 after buying an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in American Tower in the 3rd quarter worth approximately $1,156,000. TigerOak Management L.L.C. acquired a new position in shares of American Tower during the fourth quarter worth approximately $1,102,000. Finally, Brookstone Capital Management boosted its position in shares of American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock valued at $1,629,000 after acquiring an additional 1,995 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on AMT shares. The Goldman Sachs Group cut their target price on shares of American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Mizuho lowered their price target on American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. JMP Securities started coverage on American Tower in a research report on Monday, January 27th. They issued an "outperform" rating and a $225.00 price objective for the company. Finally, Morgan Stanley lowered their price objective on American Tower from $219.00 to $213.00 and set an "equal weight" rating on the stock in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $229.43.

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Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business'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 in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

American Tower Price Performance

Shares of American Tower stock traded up $1.48 during mid-day trading on Friday, reaching $215.52. 1,907,465 shares of the stock were exchanged, compared to its average volume of 2,385,502. The company has a market cap of $100.74 billion, a price-to-earnings ratio of 90.94, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. 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 firm has a 50-day simple moving average of $198.89 and a 200 day simple moving average of $204.85.

American Tower (NYSE:AMT - Get Free Report) last posted its 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 company had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 earnings per share. On average, sell-side analysts predict that American Tower Co. will post 10.14 EPS 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. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. 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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.16%. American Tower's dividend payout ratio (DPR) 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.