IHT Wealth Management LLC Cuts Stock Position in American Tower Co. (NYSE:AMT)

IHT Wealth Management LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 24.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,385 shares of the real estate investment trust's stock after selling 2,057 shares during the quarter. IHT Wealth Management LLC's holdings in American Tower were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in AMT. Partners Group Holding AG increased its position in shares of American Tower by 8.3% during the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock valued at $69,438,000 after buying an additional 28,988 shares during the period. Nordea Investment Management AB raised its position in shares of American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust's stock worth $260,743,000 after buying an additional 314,769 shares in the last quarter. TigerOak Management L.L.C. bought a new stake in American Tower during the fourth quarter valued at $1,102,000. Brookstone Capital Management grew its position in American Tower by 29.0% during the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock worth $1,629,000 after buying an additional 1,995 shares in the last quarter. Finally, CCLA Investment Management increased its stake in American Tower by 5.5% in the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust's stock worth $79,344,000 after acquiring an additional 22,523 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Trading Down 0.0 %

Shares of AMT stock traded down $0.01 during trading hours on Monday, reaching $210.81. The company's stock had a trading volume of 3,329,860 shares, compared to its average volume of 2,880,484. The firm's fifty day simple moving average is $210.83 and its 200 day simple moving average is $202.00. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The stock has a market capitalization of $98.54 billion, a P/E ratio of 88.95, a P/E/G ratio of 1.29 and a beta of 0.87. 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 announced its earnings results 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. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 EPS. Equities research analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently disclosed 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 represents a $6.80 annualized dividend and a yield of 3.23%. This is a positive change from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio (DPR) is currently 141.37%.

Analyst Upgrades and Downgrades

AMT has been the subject of several recent analyst reports. Mizuho decreased their price objective on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company upgraded shares of American Tower from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Barclays raised their price target on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Scotiabank reiterated an "outperform" rating on shares of American Tower in a research report on Tuesday, April 22nd. Finally, BMO Capital Markets upped their target price on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $233.07.

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.