American Tower Co. (NYSE:AMT) Position Decreased by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its position in American Tower Co. (NYSE:AMT - Free Report) by 8.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,206,867 shares of the real estate investment trust's stock after selling 300,988 shares during the period. Wells Fargo & Company MN owned about 0.69% of American Tower worth $588,171,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Roxbury Financial LLC purchased a new position in American Tower in the 4th quarter valued at about $32,000. Graney & King LLC purchased a new position in shares of American Tower during the fourth quarter valued at approximately $32,000. Legacy Investment Solutions LLC acquired a new stake in American Tower during the third quarter worth approximately $34,000. Crowley Wealth Management Inc. purchased a new stake in American Tower in the 4th quarter worth approximately $37,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of American Tower during the 4th quarter worth $46,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the subject of several research analyst reports. Mizuho dropped their price target on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. The Goldman Sachs Group lowered their price target on American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Barclays lifted 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. JMP Securities initiated coverage on American Tower in a research report on Monday, January 27th. They issued an "outperform" rating and a $225.00 price objective on the stock. Finally, BMO Capital Markets upped their target price on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $232.07.

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American Tower Stock Performance

NYSE:AMT traded down $2.20 during midday trading on Thursday, reaching $205.28. 1,334,118 shares of the company traded hands, compared to its average volume of 2,468,851. The firm has a market capitalization of $95.96 billion, a price-to-earnings ratio of 86.39, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The company has a fifty day moving average price of $204.27 and a 200 day moving average price of $203.20. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

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 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.51 billion. During the same quarter last year, the company earned $2.29 EPS. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.31%. 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 141.37%.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 62,792 shares of the company's stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.