American Tower Co. (NYSE:AMT) Stake Trimmed by Trillium Asset Management LLC

Trillium Asset Management LLC decreased its position in American Tower Co. (NYSE:AMT - Free Report) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,167 shares of the real estate investment trust's stock after selling 14,909 shares during the quarter. Trillium Asset Management LLC's holdings in American Tower were worth $33,228,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AMT. Empowered Funds LLC grew its position in American Tower by 5.4% in the third quarter. Empowered Funds LLC now owns 9,935 shares of the real estate investment trust's stock valued at $2,310,000 after acquiring an additional 508 shares in the last quarter. Thrivent Financial for Lutherans grew its position in American Tower by 1.1% in the third quarter. Thrivent Financial for Lutherans now owns 130,175 shares of the real estate investment trust's stock valued at $30,273,000 after acquiring an additional 1,453 shares in the last quarter. Quest Partners LLC grew its position in shares of American Tower by 412.8% during the third quarter. Quest Partners LLC now owns 7,836 shares of the real estate investment trust's stock worth $1,822,000 after buying an additional 6,308 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of American Tower during the third quarter worth approximately $234,000. Finally, Meeder Advisory Services Inc. grew its position in shares of American Tower by 6.6% during the third quarter. Meeder Advisory Services Inc. now owns 6,371 shares of the real estate investment trust's stock worth $1,482,000 after buying an additional 396 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Barclays raised their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday. BMO Capital Markets raised their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on shares of American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Finally, Morgan Stanley decreased their price target on shares of American Tower from $219.00 to $213.00 and set an "equal weight" rating for the company in a research report on Monday, February 24th. 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. According to data from MarketBeat.com, American Tower currently has an average rating of "Buy" and a consensus price target of $229.43.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 transaction, the chief financial officer now directly owns 62,792 shares of the company's stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company's stock.

American Tower Stock Performance

AMT stock traded up $2.14 during mid-day trading on Friday, reaching $216.41. The company had a trading volume of 6,326,073 shares, compared to its average volume of 2,266,564. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market capitalization of $101.16 billion, a P/E ratio of 91.31, a P/E/G ratio of 1.29 and a beta of 0.85. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The stock's 50-day simple moving average is $195.99 and its two-hundred day simple moving average is $205.43.

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 (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $2.51 billion. During the same period last year, the business posted $2.29 earnings per share. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. Research analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a dividend of $1.70 per share. This is a boost from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, April 11th. American Tower's payout ratio is currently 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.