State of Tennessee Department of Treasury lessened its holdings in American Tower Co. (NYSE:AMT - Free Report) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 178,939 shares of the real estate investment trust's stock after selling 7,750 shares during the period. State of Tennessee Department of Treasury's holdings in American Tower were worth $32,819,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. Wilmington Savings Fund Society FSB acquired a new stake in American Tower in the 3rd quarter valued at about $1,784,000. Destination Wealth Management increased its stake in shares of American Tower by 2.7% during the third quarter. Destination Wealth Management now owns 94,992 shares of the real estate investment trust's stock worth $22,091,000 after buying an additional 2,517 shares during the period. Tidal Investments LLC raised its holdings in American Tower by 5.4% in the third quarter. Tidal Investments LLC now owns 19,990 shares of the real estate investment trust's stock valued at $4,649,000 after acquiring an additional 1,032 shares in the last quarter. Franklin Resources Inc. lifted its stake in American Tower by 0.9% in the third quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust's stock worth $981,455,000 after acquiring an additional 38,436 shares during the last quarter. Finally, Inspire Trust Co. N.A. grew its holdings in American Tower by 19.3% during the 3rd quarter. Inspire Trust Co. N.A. now owns 7,800 shares of the real estate investment trust's stock worth $1,814,000 after acquiring an additional 1,260 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on AMT shares. BMO Capital Markets boosted their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Barclays upped their price objective on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. 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. JMP Securities initiated coverage on American Tower in a report on Monday, January 27th. They issued an "outperform" rating and a $225.00 price target for the company. Finally, Scotiabank reissued an "outperform" rating on shares of American Tower in a report on Tuesday. Two investment 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. Based on data from MarketBeat, American Tower has a consensus rating of "Buy" and an average target price of $233.07.
View Our Latest Report on AMT
American Tower Stock Performance
Shares of NYSE:AMT traded down $0.27 on Friday, reaching $210.64. The company's stock had a trading volume of 2,464,545 shares, compared to its average volume of 2,479,894. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a market capitalization of $98.47 billion, a P/E ratio of 88.88, a PEG ratio of 1.29 and a beta of 0.87. The stock's 50-day moving average is $210.41 and its two-hundred day moving average is $202.33. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.
American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data 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 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 business earned $2.29 EPS. The firm's revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that American Tower Co. will post 10.14 EPS for the current year.
American Tower Increases Dividend
The company 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 $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.23%. This is a positive change from American Tower's previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower's dividend payout ratio (DPR) is 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.
Further Reading
Before you consider American Tower, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and American Tower wasn't on the list.
While American Tower currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
