American Tower Co. (NYSE:AMT) Stock Holdings Reduced by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC cut its holdings in American Tower Co. (NYSE:AMT - Free Report) by 2.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 64,287 shares of the real estate investment trust's stock after selling 1,677 shares during the period. American Tower comprises approximately 0.8% of Knights of Columbus Asset Advisors LLC's holdings, making the stock its 29th biggest position. Knights of Columbus Asset Advisors LLC's holdings in American Tower were worth $11,791,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Legacy Investment Solutions LLC acquired a new stake in American Tower in the third quarter worth $34,000. Roxbury Financial LLC acquired a new stake in shares of American Tower in the 4th quarter worth about $32,000. Hobbs Group Advisors LLC boosted its stake in American Tower by 51.0% during the 3rd quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 75 shares during the period. Larson Financial Group LLC grew its position in American Tower by 49.3% in the 3rd quarter. Larson Financial Group LLC now owns 227 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 75 shares during the last quarter. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $46,000. Institutional investors own 92.69% of the company's stock.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares of the company's stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by insiders.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group cut their price objective 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 increased their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Hsbc Global Res raised American Tower to a "strong-buy" rating in a report on Thursday, February 27th. JMP Securities initiated coverage on American Tower in a research note on Monday, January 27th. They set an "outperform" rating and a $225.00 price target for the company. Finally, Morgan Stanley dropped their price objective on American Tower from $219.00 to $213.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $229.43.

American Tower Trading Up 0.2 %

AMT stock traded up $0.41 during mid-day trading on Wednesday, reaching $209.91. 1,607,372 shares of the stock traded hands, compared to its average volume of 2,268,842. The stock's fifty day moving average is $197.91 and its 200-day moving average is $204.94. The company has a market cap of $98.12 billion, a P/E ratio of 88.57, a P/E/G ratio of 1.29 and a beta of 0.85. 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 Co. has a 52-week low of $170.46 and a 52-week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating 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 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 earned $2.29 EPS. The firm's quarterly revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders 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. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.24%. American Tower's payout ratio is currently 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.