Riverview Capital Advisers LLC Cuts Stake in American Tower Co. (NYSE:AMT)

Riverview Capital Advisers LLC lessened its stake in American Tower Co. (NYSE:AMT) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,528 shares of the real estate investment trust’s stock after selling 80 shares during the quarter. American Tower accounts for approximately 1.2% of Riverview Capital Advisers LLC’s holdings, making the stock its 27th biggest position. Riverview Capital Advisers LLC’s holdings in American Tower were worth $3,949,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its position in American Tower by 17.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 702 shares of the real estate investment trust’s stock valued at $129,000 after acquiring an additional 106 shares in the last quarter. Brookstone Capital Management boosted its holdings in shares of American Tower by 29.0% during the 4th 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 last quarter. Pallas Capital Advisors LLC lifted its position in American Tower by 2.6% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,602 shares of the real estate investment trust’s stock valued at $477,000 after purchasing an additional 67 shares during the period. Pines Wealth Management LLC purchased a new stake in American Tower during the 4th quarter valued at $218,000. Finally, Community Trust & Investment Co. increased its position in American Tower by 4.4% during the fourth quarter. Community Trust & Investment Co. now owns 15,745 shares of the real estate investment trust’s stock valued at $2,888,000 after acquiring an additional 666 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMT. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. BMO Capital Markets raised their price target on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Raymond James lifted their target price on American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. Morgan Stanley started coverage on shares of American Tower in a report on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $239.27.

American Tower Stock Up 0.4%

Shares of NYSE AMT opened at $204.68 on Thursday. American Tower Co. has a 1 year low of $172.51 and a 1 year high of $243.56. The firm has a 50-day simple moving average of $214.91 and a two-hundred day simple moving average of $201.70. The company has a market cap of $95.82 billion, a P/E ratio of 86.36, a PEG ratio of 1.29 and a beta of 0.86. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.34. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the company earned $2.79 EPS. Research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, April 11th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.32%. The ex-dividend date was Friday, April 11th. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is currently 174.81%.

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.