Lbp Am Sa Trims Stake in American Tower Co. (NYSE:AMT)

Lbp Am Sa reduced its position in shares of American Tower Co. (NYSE:AMTFree Report) by 77.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,145 shares of the real estate investment trust’s stock after selling 31,188 shares during the quarter. Lbp Am Sa’s holdings in American Tower were worth $1,677,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of AMT. Madison Investment Advisors LLC purchased a new position in shares of American Tower in the 4th quarter valued at $29,658,000. HBK Sorce Advisory LLC increased its holdings in shares of American Tower by 24.2% in the 4th quarter. HBK Sorce Advisory LLC now owns 1,783 shares of the real estate investment trust’s stock valued at $327,000 after acquiring an additional 347 shares during the period. Erste Asset Management GmbH increased its holdings in shares of American Tower by 14.0% in the 4th quarter. Erste Asset Management GmbH now owns 12,289 shares of the real estate investment trust’s stock valued at $2,235,000 after acquiring an additional 1,505 shares during the period. Vestcor Inc increased its holdings in shares of American Tower by 1.2% in the 4th quarter. Vestcor Inc now owns 94,965 shares of the real estate investment trust’s stock valued at $17,418,000 after acquiring an additional 1,118 shares during the period. Finally, Great Lakes Advisors LLC increased its holdings in shares of American Tower by 0.4% in the 4th quarter. Great Lakes Advisors LLC now owns 444,436 shares of the real estate investment trust’s stock valued at $81,514,000 after acquiring an additional 1,805 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Citigroup lifted their price target on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. Scotiabank cut their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley lowered their price objective on 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. Barclays lowered their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average price target of $226.29.

Read Our Latest Report on American Tower

Insider Buying and Selling at American Tower

In other American Tower 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 completion of the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $211.02 on Friday. The stock has a 50-day moving average of $192.33 and a two-hundred day moving average of $205.82. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $98.64 billion, a P/E ratio of 89.04, a P/E/G ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMTGet Free Report) last issued its quarterly 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 company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 EPS. As a group, research analysts predict 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. Shareholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.22%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is presently 141.37%.

American Tower Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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