American Tower Co. (NYSE:AMT) is Uniplan Investment Counsel Inc.'s 2nd Largest Position

Uniplan Investment Counsel Inc. reduced its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 273,711 shares of the real estate investment trust's stock after selling 20,387 shares during the quarter. American Tower makes up 4.7% of Uniplan Investment Counsel Inc.'s investment portfolio, making the stock its 2nd largest position. Uniplan Investment Counsel Inc. owned approximately 0.06% of American Tower worth $50,201,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cohen & Steers Inc. boosted its position in American Tower by 21.8% during the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after acquiring an additional 3,437,602 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of American Tower by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock worth $2,074,956,000 after purchasing an additional 129,192 shares during the period. FMR LLC boosted its holdings in shares of American Tower by 5.0% during the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock worth $2,050,390,000 after purchasing an additional 537,136 shares during the last quarter. Capital Research Global Investors grew its position in shares of American Tower by 66.5% in the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock valued at $1,570,547,000 after purchasing an additional 3,421,413 shares during the period. Finally, Norges Bank acquired a new position in American Tower in the fourth quarter valued at $1,164,851,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Price Performance

AMT stock traded down $0.27 during trading hours on Friday, hitting $210.64. 2,464,545 shares of the stock traded hands, compared to its average volume of 2,482,365. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a 50-day simple moving average of $210.41 and a 200 day simple moving average of $202.33. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a market cap of $98.47 billion, a P/E ratio of 88.88, a P/E/G ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results 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. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.29 EPS. Equities analysts forecast 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. Stockholders of record on Friday, April 11th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change 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 3.23%. American Tower's payout ratio is 141.37%.

Analyst Ratings Changes

A number of brokerages have issued reports on AMT. Mizuho decreased their price target 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. JMP Securities assumed coverage on shares of American Tower in a report on Monday, January 27th. They issued an "outperform" rating and a $225.00 target price for the company. BMO Capital Markets upped 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. Morgan Stanley initiated coverage on American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price on the stock. Finally, Scotiabank restated an "outperform" rating on shares of American Tower in a report on Tuesday. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $233.07.

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.