RBF Capital LLC decreased its position in American Tower Co. (NYSE:AMT - Free Report) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the real estate investment trust's stock after selling 10,000 shares during the quarter. RBF Capital LLC's holdings in American Tower were worth $1,834,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of AMT. Roxbury Financial LLC bought a new stake in American Tower in the 4th quarter valued at approximately $32,000. Graney & King LLC bought a new stake in shares of American Tower in the fourth quarter worth $32,000. Crowley Wealth Management Inc. acquired a new position in American Tower during the fourth quarter worth $37,000. Bank of Jackson Hole Trust bought a new position in American Tower in the fourth quarter valued at $46,000. Finally, Versant Capital Management Inc increased 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 during the last quarter. 92.69% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on AMT shares. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a report on Monday, January 27th. Wells Fargo & Company raised American Tower from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Morgan Stanley assumed coverage on American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective for the company. JMP Securities started coverage on shares of American Tower in a report on Monday, January 27th. They set an "outperform" rating and a $225.00 target price on the stock. Finally, Scotiabank increased their price target on shares of American Tower from $220.00 to $234.00 and gave the company a "sector outperform" rating in a research note on Tuesday. Two 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. According to data from MarketBeat.com, American Tower has a consensus rating of "Buy" and a consensus price target of $233.07.
Read Our Latest Stock Analysis on American Tower
American Tower Stock Performance
NYSE:AMT opened at $221.08 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a 50 day simple moving average of $209.52 and a 200 day simple moving average of $202.35. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock has a market cap of $103.34 billion, a P/E ratio of 93.28, a PEG ratio of 1.29 and a beta of 0.87.
American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the firm earned $2.29 earnings per share. The company's revenue was up 3.7% on a year-over-year basis. Research analysts anticipate 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 given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.08%. This is an increase from American Tower's previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower's payout ratio is presently 141.37%.
About American Tower
(
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.
See Also
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