Stifel Financial Corp Has $62.55 Million Stake in American Tower Co. (NYSE:AMT)

Stifel Financial Corp cut its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 340,993 shares of the real estate investment trust's stock after selling 9,424 shares during the quarter. Stifel Financial Corp owned about 0.07% of American Tower worth $62,554,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Graney & King LLC bought a new position in shares of American Tower during the fourth quarter worth approximately $32,000. Roxbury Financial LLC bought a new position in American Tower during the 4th quarter worth $32,000. Crowley Wealth Management Inc. acquired a new stake in shares of American Tower during the fourth quarter worth $37,000. Bank of Jackson Hole Trust bought a new stake in shares of American Tower in the fourth quarter valued at about $46,000. Finally, Kestra Investment Management LLC bought a new position in American Tower during the fourth quarter worth about $48,000. Institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AMT. Citigroup increased their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a research note on Monday, January 27th. BMO Capital Markets increased their target price on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, American Tower has a consensus rating of "Buy" and a consensus target price of $233.07.

American Tower Stock Performance

NYSE:AMT opened at $221.08 on Wednesday. The stock's 50-day moving average is $209.52 and its 200-day moving average is $202.35. The stock has a market cap of $103.34 billion, a P/E ratio of 93.28, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. 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 announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company's revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.29 EPS. Equities research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This is an increase from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.08%. American Tower's payout ratio is presently 141.37%.

American Tower Company 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.

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