American Tower Co. (NYSE:AMT) Holdings Reduced by Cox Capital Mgt LLC

Cox Capital Mgt LLC cut its holdings in shares of American Tower Co. (NYSE:AMT) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,490 shares of the real estate investment trust’s stock after selling 280 shares during the period. American Tower accounts for approximately 1.7% of Cox Capital Mgt LLC’s portfolio, making the stock its 24th biggest holding. Cox Capital Mgt LLC’s holdings in American Tower were worth $2,658,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its position in American Tower by 1.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 17,107 shares of the real estate investment trust’s stock valued at $3,138,000 after buying an additional 250 shares in the last quarter. Board of the Pension Protection Fund bought a new position in shares of American Tower in the fourth quarter valued at approximately $862,000. CCLA Investment Management boosted its holdings in shares of American Tower by 5.5% in the fourth 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 in the last quarter. Community Trust & Investment Co. raised its holdings 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 worth $2,888,000 after purchasing an additional 666 shares in the last quarter. Finally, Pines Wealth Management LLC acquired a new stake in American Tower in the fourth quarter worth approximately $218,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Scotiabank lowered their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Barclays dropped their price target on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday. The Goldman Sachs Group cut their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. BMO Capital Markets lowered their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.67.

American Tower Stock Up 1.2 %

AMT stock opened at $178.99 on Wednesday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $83.64 billion, a P/E ratio of 75.52, a P/E/G ratio of 1.31 and a beta of 0.84. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company’s 50 day simple moving average is $193.58 and its 200-day simple moving average is $211.68.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $2.58 earnings per share. As a group, equities research analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.62%. American Tower’s payout ratio is presently 273.42%.

American Tower 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.