Duff & Phelps Investment Management Co. Has $167.04 Million Stake in American Tower Co. (NYSE:AMT)

Duff & Phelps Investment Management Co. trimmed its position in American Tower Co. (NYSE:AMT) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 910,738 shares of the real estate investment trust’s stock after selling 2,351 shares during the period. American Tower accounts for approximately 2.0% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 8th biggest holding. Duff & Phelps Investment Management Co. owned about 0.19% of American Tower worth $167,038,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. New Age Alpha Advisors LLC increased its holdings in shares of American Tower by 99,327.8% during the 4th quarter. New Age Alpha Advisors LLC now owns 53,691 shares of the real estate investment trust’s stock worth $9,847,000 after buying an additional 53,637 shares during the last quarter. Easterly Investment Partners LLC purchased a new position in shares of American Tower during the fourth quarter worth approximately $12,242,000. Norges Bank acquired a new stake in shares of American Tower in the 4th quarter worth $1,164,851,000. LM Advisors LLC boosted its position in shares of American Tower by 86.8% during the 4th quarter. LM Advisors LLC now owns 2,002 shares of the real estate investment trust’s stock worth $370,000 after purchasing an additional 930 shares in the last quarter. Finally, AssuredPartners Investment Advisors LLC purchased a new stake in American Tower during the fourth quarter worth $393,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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 transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.

American Tower Trading Up 2.1 %

NYSE AMT opened at $214.38 on Friday. The company has a market cap of $100.21 billion, a price-to-earnings ratio of 90.46, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The business’s fifty day moving average is $198.39 and its 200 day moving average is $205.01. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last posted 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 during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.29 earnings per share. As a group, sell-side analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Friday, April 11th. This is a boost from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is currently 141.37%.

Analyst Ratings Changes

AMT has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. BMO Capital Markets increased their price target on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Barclays lifted their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, Hsbc Global Res raised American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $229.43.

American Tower Company 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.