American Tower Co. (NYSE:AMT) Stock Holdings Decreased by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. lowered its stake in American Tower Co. (NYSE:AMT) by 5.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 67,400 shares of the real estate investment trust’s stock after selling 3,600 shares during the period. Adams Diversified Equity Fund Inc.’s holdings in American Tower were worth $12,362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AMT. Prospera Financial Services Inc increased its position in shares of American Tower by 1.0% in the 3rd quarter. Prospera Financial Services Inc now owns 16,122 shares of the real estate investment trust’s stock worth $3,754,000 after purchasing an additional 157 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of American Tower in the 3rd quarter valued at about $115,000. Commerce Bank boosted its holdings in shares of American Tower by 1.4% in the 3rd quarter. Commerce Bank now owns 18,168 shares of the real estate investment trust’s stock valued at $4,225,000 after buying an additional 245 shares during the period. Jennison Associates LLC boosted its holdings in shares of American Tower by 1.5% in the 3rd quarter. Jennison Associates LLC now owns 45,720 shares of the real estate investment trust’s stock valued at $10,633,000 after buying an additional 687 shares during the period. Finally, Moors & Cabot Inc. boosted its holdings in shares of American Tower by 9.2% in the 3rd quarter. Moors & Cabot Inc. now owns 2,725 shares of the real estate investment trust’s stock valued at $637,000 after buying an additional 229 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.2 %

AMT stock opened at $214.19 on Friday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a market capitalization of $100.13 billion, a price-to-earnings ratio of 90.38, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The firm’s 50-day moving average is $195.13 and its two-hundred day moving average is $205.66. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

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

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s payout ratio is presently 141.37%.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AMT shares. The Goldman Sachs Group decreased 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. Mizuho decreased their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. JMP Securities started coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target for the company. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Morgan Stanley reduced their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $228.79.

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.