American Tower Co. (NYSE:AMT) Shares Sold by Princeton Capital Management LLC

Princeton Capital Management LLC lessened its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 6.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,871 shares of the real estate investment trust's stock after selling 1,924 shares during the quarter. American Tower comprises 1.6% of Princeton Capital Management LLC's portfolio, making the stock its 14th biggest holding. Princeton Capital Management LLC's holdings in American Tower were worth $5,112,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AMT. Partners Group Holding AG grew its holdings in shares of 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 valued at $69,438,000 after purchasing an additional 28,988 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of 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 worth $260,743,000 after buying an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of American Tower in the 3rd quarter worth about $1,156,000. TigerOak Management L.L.C. purchased a new stake in shares of American Tower during the 4th quarter valued at about $1,102,000. Finally, Brookstone Capital Management lifted its holdings in shares of American Tower by 29.0% in the 4th 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 last quarter. Institutional investors own 92.69% of the company's stock.

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Analyst Ratings Changes

AMT has been the topic of several analyst reports. Hsbc Global Res raised American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Mizuho cut their target price on 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 American Tower from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Scotiabank cut 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. Finally, JMP Securities assumed coverage on shares of American Tower in a report on Monday, January 27th. They issued an "outperform" rating and a $225.00 target price for the company. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, American Tower has an average rating of "Buy" and an average target price of $229.43.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

American Tower Stock Up 0.7 %

American Tower stock traded up $1.48 during midday trading on Friday, hitting $215.52. 1,907,465 shares of the company's stock were exchanged, compared to its average volume of 2,385,502. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $100.74 billion, a PE ratio of 90.94, a P/E/G ratio of 1.29 and a beta of 0.85. The firm has a 50-day moving average of $198.89 and a two-hundred day moving average of $204.58.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company's quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $2.29 earnings per share. As a group, analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.16%. This is an increase from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio (DPR) is presently 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.