Stevens Capital Management LP Has $1.25 Million Stock Position in American Tower Co. (NYSE:AMT)

Stevens Capital Management LP lessened its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 62.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,830 shares of the real estate investment trust's stock after selling 11,330 shares during the period. Stevens Capital Management LP's holdings in American Tower were worth $1,253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMT. LPL Financial LLC raised its position in American Tower by 3.4% in the 4th quarter. LPL Financial LLC now owns 368,499 shares of the real estate investment trust's stock valued at $67,586,000 after buying an additional 12,271 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of American Tower during the 4th quarter worth approximately $29,032,000. Sei Investments Co. lifted its position in shares of American Tower by 6.7% in the fourth quarter. Sei Investments Co. now owns 995,008 shares of the real estate investment trust's stock worth $182,494,000 after purchasing an additional 62,359 shares in the last quarter. American Century Companies Inc. lifted its position in shares of American Tower by 4.0% in the fourth quarter. American Century Companies Inc. now owns 1,550,218 shares of the real estate investment trust's stock worth $284,326,000 after purchasing an additional 59,306 shares in the last quarter. Finally, Mizuho Securities USA LLC grew its position in American Tower by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 44,288 shares of the real estate investment trust's stock valued at $8,123,000 after purchasing an additional 14,000 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages have commented on AMT. The Goldman Sachs Group cut their price target on shares of American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. Wells Fargo & Company upgraded American Tower from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $210.00 to $230.00 in a report on Monday, March 17th. Scotiabank decreased their price target on American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a research note on Thursday, January 23rd. Mizuho dropped their price objective on American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Finally, Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $229.43.

American Tower Stock Performance

AMT stock traded up $4.36 during mid-day trading on Thursday, hitting $214.38. 2,458,406 shares of the company were exchanged, compared to its average volume of 2,267,824. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock has a market capitalization of $100.21 billion, a PE ratio of 90.46, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The business has a 50 day simple moving average of $198.39 and a 200-day simple moving average of $205.01. 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 released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping 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 business had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same period last year, the firm posted $2.29 EPS. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts forecast 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. Investors of record on Friday, April 11th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.17%. This is a positive change from American Tower's previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. American Tower's dividend payout ratio (DPR) is currently 141.37%.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company's stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company's stock.

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.