Van Lanschot Kempen Investment Management N.V. Cuts Stake in American Tower Co. (NYSE:AMT)

Van Lanschot Kempen Investment Management N.V. cut its holdings in American Tower Co. (NYSE:AMT) by 1.6% in the fourth quarter, Holdings Channel reports. The fund owned 43,143 shares of the real estate investment trust’s stock after selling 687 shares during the quarter. Van Lanschot Kempen Investment Management N.V.’s holdings in American Tower were worth $7,913,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMT. Glenview Trust co lifted its position in shares of American Tower by 0.8% in the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock worth $1,294,000 after purchasing an additional 54 shares during the period. CreativeOne Wealth LLC lifted its holdings in American Tower by 2.1% during the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust’s stock worth $477,000 after buying an additional 54 shares during the period. Precedent Wealth Partners LLC boosted its position in American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 58 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of American Tower by 5.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after acquiring an additional 61 shares during the period. Finally, Calamos Wealth Management LLC raised its position in shares of American Tower by 2.9% in the 4th 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 in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Mizuho cut their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. BMO Capital Markets increased their target price on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Finally, Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Two analysts have rated the stock with a hold rating, twelve 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 has an average rating of “Buy” and an average price target of $232.07.

American Tower Price Performance

Shares of NYSE:AMT opened at $218.08 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company’s 50 day moving average is $208.90 and its 200 day moving average is $202.22. The company has a market cap of $101.94 billion, a PE ratio of 92.02, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT) last posted its 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. 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 quarterly revenue 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. On average, sell-side analysts forecast that American Tower Co. will post 10.14 EPS for the current 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 issued a $1.70 dividend. The ex-dividend date is Friday, April 11th. This is an increase from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.12%. American Tower’s payout ratio is presently 141.37%.

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.