Coastline Trust Co Sells 487 Shares of American Tower Co. (NYSE:AMT)

Coastline Trust Co trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 48.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 510 shares of the real estate investment trust’s stock after selling 487 shares during the quarter. Coastline Trust Co’s holdings in American Tower were worth $94,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AMT. First Trust Advisors LP boosted its stake in American Tower by 127.4% in the 4th quarter. First Trust Advisors LP now owns 126,558 shares of the real estate investment trust’s stock worth $23,212,000 after purchasing an additional 70,895 shares during the period. GeoWealth Management LLC grew its holdings in shares of American Tower by 67.7% during the fourth quarter. GeoWealth Management LLC now owns 12,124 shares of the real estate investment trust’s stock worth $2,224,000 after buying an additional 4,896 shares in the last quarter. Capital International Sarl acquired a new stake in American Tower in the 4th quarter valued at approximately $465,000. CANADA LIFE ASSURANCE Co grew its stake in shares of American Tower by 33.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 887,844 shares of the real estate investment trust’s stock worth $162,626,000 after acquiring an additional 224,012 shares in the last quarter. Finally, Ally Financial Inc. bought a new stake in shares of American Tower in the fourth quarter worth $3,301,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

Shares of NYSE AMT opened at $223.03 on Friday. The stock’s fifty day moving average price is $208.33 and its two-hundred day moving average price is $202.44. The firm has a market cap of $104.26 billion, a price-to-earnings ratio of 94.10, a P/E/G ratio of 1.29 and a beta of 0.87. 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 current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations 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 last year, the firm earned $2.29 earnings per share. On average, equities analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company 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. This represents a $6.80 dividend on an annualized basis and a yield of 3.05%. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s dividend payout ratio is presently 141.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AMT shares. JMP Securities began coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Scotiabank lowered their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $210.00 to $230.00 in a report on Monday, March 17th. Two equities research 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 data from MarketBeat, American Tower presently has an average rating of “Buy” and a consensus target price of $232.07.

About American Tower

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.