Federated Hermes Inc. Decreases Holdings in American Tower Co. (NYSE:AMT)

Federated Hermes Inc. lowered its position in American Tower Co. (NYSE:AMT) by 30.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 504,183 shares of the real estate investment trust’s stock after selling 222,873 shares during the quarter. Federated Hermes Inc. owned approximately 0.11% of American Tower worth $92,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Roxbury Financial LLC bought a new position in shares of American Tower during the 4th quarter valued at $32,000. Graney & King LLC bought a new position in shares of American Tower during the fourth quarter valued at about $32,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower in the third quarter worth about $34,000. Crowley Wealth Management Inc. bought a new stake in shares of American Tower in the 4th quarter valued at about $37,000. Finally, Bank of Jackson Hole Trust purchased a new position in American Tower in the 4th quarter worth approximately $46,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

Shares of NYSE AMT opened at $220.43 on Monday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a 50 day simple moving average of $202.22 and a two-hundred day simple moving average of $203.72. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a market capitalization of $103.04 billion, a price-to-earnings ratio of 93.01, a P/E/G ratio of 1.29 and a beta of 0.87.

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

American Tower Increases Dividend

The company also recently announced 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 of this dividend is Friday, April 11th. This is a boost from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.08%. American Tower’s payout ratio is 141.37%.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AMT shares. Morgan Stanley initiated coverage on American Tower in a research note on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price objective for the company. Barclays boosted their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Citigroup boosted their price target on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, JMP Securities assumed coverage on American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective for the company. Two equities research 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. Based on data from MarketBeat, American Tower presently has an average rating of “Buy” and a consensus price target of $232.07.

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.