American Tower Co. (NYSE:AMT) Shares Sold by Barclays PLC

Barclays PLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 29.0% during the fourth quarter, Holdings Channel reports. The firm owned 703,102 shares of the real estate investment trust’s stock after selling 286,916 shares during the period. Barclays PLC’s holdings in American Tower were worth $128,955,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AMT. Partners Group Holding AG grew its holdings in shares of American Tower by 8.3% during the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock worth $69,438,000 after purchasing an additional 28,988 shares during the last quarter. Nordea Investment Management AB increased its position in American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after buying an additional 314,769 shares during the period. TigerOak Management L.L.C. purchased a new stake in American Tower in the fourth quarter valued at approximately $1,102,000. Brookstone Capital Management boosted its holdings in shares of American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after acquiring an additional 1,995 shares during the period. Finally, CCLA Investment Management increased its holdings in shares of American Tower by 5.5% in the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock valued at $79,344,000 after acquiring an additional 22,523 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMT. Barclays increased their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. JMP Securities started coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Wells Fargo & Company raised 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 report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, American Tower has a consensus rating of “Buy” and a consensus price target of $232.07.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s 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 owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by company insiders.

American Tower Stock Up 0.0 %

AMT opened at $217.86 on Wednesday. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a market cap of $101.84 billion, a price-to-earnings ratio of 91.92, a PEG ratio of 1.29 and a beta of 0.87. The business’s fifty day moving average is $206.48 and its two-hundred day moving average is $202.67. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations 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 was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.29 EPS. Analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal 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. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.12%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is presently 141.37%.

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.