American Tower Co. (NYSE:AMT) Stake Lessened by Davis R M Inc.

Davis R M Inc. lowered its holdings in American Tower Co. (NYSE:AMT) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 292,396 shares of the real estate investment trust’s stock after selling 5,760 shares during the period. American Tower makes up 1.0% of Davis R M Inc.’s portfolio, making the stock its 28th biggest position. Davis R M Inc. owned about 0.06% of American Tower worth $53,628,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Rehmann Capital Advisory Group increased its stake in shares of American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 58 shares during the last quarter. Precedent Wealth Partners LLC increased its stake in shares of American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 58 shares during the last quarter. Resonant Capital Advisors LLC increased its stake in shares of American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 61 shares during the last quarter. Calamos Wealth Management LLC increased its stake in shares of American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after acquiring an additional 61 shares during the last quarter. Finally, Sunburst Financial Group LLC increased its stake in shares of American Tower by 4.9% in the fourth quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust’s stock worth $248,000 after acquiring an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.5 %

AMT stock opened at $213.42 on Tuesday. 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 52-week low of $170.46 and a 52-week high of $243.56. The company has a 50-day moving average of $190.23 and a two-hundred day moving average of $206.16. The stock has a market capitalization of $99.77 billion, a price-to-earnings ratio of 90.05, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last released its quarterly earnings results 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 net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the company earned $2.29 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, April 11th. This is a boost from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is presently 141.37%.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated 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 owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMT. The Goldman Sachs Group dropped their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Barclays dropped their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Morgan Stanley dropped their price target on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Scotiabank lowered their target price on shares of 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 lowered their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.29.

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.