American Tower Co. (NYSE:AMT) Shares Sold by Founders Financial Alliance LLC

Founders Financial Alliance LLC lowered its position in shares of American Tower Co. (NYSE:AMT) by 8.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,399 shares of the real estate investment trust’s stock after selling 226 shares during the quarter. Founders Financial Alliance LLC’s holdings in American Tower were worth $440,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. FMR LLC raised its holdings in American Tower by 25.4% during the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC raised its stake in shares of American Tower by 2,723.4% during the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after buying an additional 1,160,890 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of American Tower in the 4th quarter valued at approximately $193,246,000. Daiwa Securities Group Inc. lifted its holdings in shares of American Tower by 456.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust’s stock valued at $206,269,000 after buying an additional 922,701 shares during the period. Finally, State Street Corp boosted its stake in shares of American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after buying an additional 635,726 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Stock Up 0.5 %

AMT opened at $213.42 on Tuesday. The business’s fifty day simple moving average is $190.23 and its 200 day simple moving average is $206.16. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The firm has a market cap of $99.77 billion, a P/E ratio of 90.05, a PEG ratio of 1.29 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 earnings per share. As a group, equities research analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is currently 141.37%.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of recent analyst reports. The Goldman Sachs Group reduced their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective for the company. Citigroup upped their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday. BMO Capital Markets lifted their price target on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Mizuho lowered their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.29.

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.