Qtron Investments LLC cut its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 69.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,899 shares of the real estate investment trust's stock after selling 6,593 shares during the quarter. Qtron Investments LLC's holdings in American Tower were worth $532,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Graney & King LLC purchased a new stake in shares of American Tower in the 4th quarter worth about $32,000. Roxbury Financial LLC acquired a new position in American Tower during the fourth quarter worth about $32,000. Crowley Wealth Management Inc. purchased a new stake in shares of American Tower in the fourth quarter valued at about $37,000. Bank of Jackson Hole Trust acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $46,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $48,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.
American Tower Trading Up 0.0 %
AMT stock traded up $0.07 during trading on Tuesday, reaching $217.86. 3,641,929 shares of the stock traded hands, compared to its average volume of 2,464,416. The firm has a market capitalization of $101.84 billion, a PE ratio of 91.92, a P/E/G ratio of 1.29 and a beta of 0.87. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The business's 50 day moving average price is $206.48 and its 200-day moving average price is $202.67.
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, topping 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 company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the firm earned $2.29 earnings per share. American Tower's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.
American Tower Increases Dividend
The business also recently declared 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 is a positive change from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.12%. American Tower's payout ratio is 141.37%.
Insider Activity
In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business's stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Citigroup increased their target price on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a report on Monday, March 10th. Barclays increased their price objective on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. JMP Securities initiated coverage on shares of American Tower in a report on Monday, January 27th. They issued an "outperform" rating and a $225.00 target price on the stock. Finally, Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a report on Monday, January 27th. Two 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 stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $232.07.
View Our Latest Stock Report on American Tower
American Tower Profile
(
Free Report)
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.
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