Townsquare Capital LLC Decreases Stock Position in American Tower Co. (NYSE:AMT)

Townsquare Capital LLC cut its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,563 shares of the real estate investment trust's stock after selling 2,082 shares during the period. Townsquare Capital LLC's holdings in American Tower were worth $9,824,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in shares of American Tower in the 3rd quarter valued at approximately $1,784,000. Destination Wealth Management raised its holdings in 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 purchasing an additional 2,517 shares during the last quarter. Tidal Investments LLC grew 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 purchasing an additional 1,032 shares during the last quarter. Franklin Resources Inc. increased its position in shares of 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 valued at $981,455,000 after buying an additional 38,436 shares in the last quarter. Finally, Inspire Trust Co. N.A. grew its stake in American Tower by 19.3% in the 3rd quarter. Inspire Trust Co. N.A. now owns 7,800 shares of the real estate investment trust's stock valued at $1,814,000 after acquiring an additional 1,260 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several research firms have recently commented on AMT. Barclays increased their price target on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Morgan Stanley began coverage on American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price on the stock. Wells Fargo & Company upgraded American Tower from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $210.00 to $230.00 in a research report on Monday, March 17th. JMP Securities assumed coverage on American Tower in a research report on Monday, January 27th. They set an "outperform" rating and a $225.00 price objective for the company. Finally, Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $232.07.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm'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 of the company's stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

American Tower Trading Up 0.0 %

AMT stock traded up $0.07 on Tuesday, hitting $217.86. 3,641,929 shares of the company were exchanged, compared to its average volume of 2,464,416. 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 stock has a market capitalization of $101.84 billion, a price-to-earnings ratio of 91.92, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The business's fifty day moving average is $206.48 and its two-hundred day moving average 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 EPS 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 business 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 firm posted $2.29 EPS. The business's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research 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 issued a $1.70 dividend. 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. This represents a $6.80 annualized dividend and a yield of 3.12%. American Tower's dividend payout ratio (DPR) is presently 141.37%.

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.