RBF Capital LLC Sells 10,000 Shares of American Tower Co. (NYSE:AMT)

RBF Capital LLC reduced its position in American Tower Co. (NYSE:AMT) by 50.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,000 shares of the real estate investment trust’s stock after selling 10,000 shares during the quarter. RBF Capital LLC’s holdings in American Tower were worth $1,834,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in American Tower during the fourth quarter valued at approximately $1,164,851,000. Cohen & Steers Inc. increased its stake in shares of American Tower by 21.8% in the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock valued at $3,516,890,000 after purchasing an additional 3,437,602 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of American Tower by 66.5% during the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock worth $1,570,547,000 after buying an additional 3,421,413 shares in the last quarter. Capital World Investors lifted its position in shares of American Tower by 160.6% during the 4th quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust’s stock worth $902,396,000 after buying an additional 3,032,005 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in American Tower in the fourth quarter valued at about $193,246,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $210.00 to $230.00 in a report on Monday, March 17th. JMP Securities started coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target for the company. Citizens Jmp raised American Tower to a “strong-buy” rating in a report on Monday, January 27th. Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Scotiabank lifted their price target on American Tower from $220.00 to $234.00 and gave the company a “sector outperform” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower presently has an average rating of “Buy” and a consensus target price of $233.07.

American Tower Trading Up 1.4 %

NYSE:AMT opened at $221.08 on Wednesday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The firm’s fifty day moving average is $209.52 and its 200-day moving average is $202.35. The firm has a market cap of $103.34 billion, a P/E ratio of 93.28, a P/E/G ratio of 1.29 and a beta of 0.87. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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 the consensus estimate of $2.51 billion. During the same period in the previous year, the business earned $2.29 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. Equities analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.08%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is currently 141.37%.

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.