American Tower Co. (NYSE:AMT) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD trimmed its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,834,413 shares of the real estate investment trust's stock after selling 660,523 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.25% of American Tower worth $1,070,091,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Roxbury Financial LLC acquired a new stake in American Tower in the 4th quarter valued at about $32,000. Graney & King LLC acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $32,000. Crowley Wealth Management Inc. purchased a new position in shares of American Tower during the 4th quarter worth approximately $37,000. Bank of Jackson Hole Trust acquired a new position in shares of American Tower during the 4th quarter worth approximately $46,000. Finally, Versant Capital Management Inc lifted its stake in American Tower by 113.9% in the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMT. Citigroup upped their price objective on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Wells Fargo & Company upgraded shares of American Tower from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $210.00 to $230.00 in a report on Monday, March 17th. BMO Capital Markets lifted their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They set an "outperform" rating and a $225.00 price objective on the stock. Finally, Scotiabank reaffirmed an "outperform" rating on shares of American Tower in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $233.07.

American Tower Trading Down 0.1 %

AMT traded down $0.27 during trading on Friday, hitting $210.64. 2,464,545 shares of the company's stock were exchanged, compared to its average volume of 2,485,503. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a 50 day moving average price of $210.83 and a 200 day moving average price of $202.11. The firm has a market cap of $98.47 billion, a P/E ratio of 88.88, a price-to-earnings-growth 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 quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the firm earned $2.29 EPS. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. As a group, analysts expect 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 dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. 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 3.23%. American Tower's dividend payout ratio (DPR) 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.