American Tower Co. (NYSE:AMT) Shares Sold by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC lowered its stake in American Tower Co. (NYSE:AMT) by 3.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,132 shares of the real estate investment trust’s stock after selling 296 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in American Tower were worth $1,675,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AMT. Roxbury Financial LLC acquired a new stake in American Tower in the fourth quarter valued at approximately $32,000. Graney & King LLC purchased a new stake in shares of American Tower in the 4th quarter valued at approximately $32,000. Crowley Wealth Management Inc. acquired a new stake in shares of American Tower in the 4th quarter valued at $37,000. Bank of Jackson Hole Trust purchased a new stake in shares of American Tower during the 4th quarter worth $46,000. Finally, Versant Capital Management Inc grew its stake in shares of American Tower by 113.9% during the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of a number of recent analyst reports. Citigroup lifted their price target on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Morgan Stanley started coverage on American Tower in a report on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 price target for the company. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Finally, Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, American Tower has a consensus rating of “Buy” and a consensus target price of $233.07.

American Tower Stock Performance

NYSE AMT opened at $212.59 on Thursday. The business’s 50-day moving average price is $209.98 and its 200 day moving average price is $202.42. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $99.38 billion, a P/E ratio of 89.70, a P/E/G ratio of 1.29 and a beta of 0.87. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56.

American Tower (NYSE:AMT) last released 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. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be issued a $1.70 dividend. 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. This represents a $6.80 annualized dividend and a dividend yield of 3.20%. 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.