Motley Fool Asset Management LLC Has $14.36 Million Stake in American Tower Co. (NYSE:AMT)

Motley Fool Asset Management LLC reduced its holdings in American Tower Co. (NYSE:AMT) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,283 shares of the real estate investment trust’s stock after selling 3,027 shares during the quarter. American Tower makes up approximately 0.7% of Motley Fool Asset Management LLC’s holdings, making the stock its 27th largest holding. Motley Fool Asset Management LLC’s holdings in American Tower were worth $14,358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Glenview Trust co grew its holdings in shares of American Tower by 0.8% during the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock worth $1,294,000 after purchasing an additional 54 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after buying an additional 58 shares in the last quarter. Precedent Wealth Partners LLC grew its holdings in American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 58 shares during the last quarter. Resonant Capital Advisors LLC increased its position in American Tower by 5.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after acquiring an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC raised its stake in shares of American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after acquiring an additional 61 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on AMT. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Mizuho dropped their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Barclays raised their price target on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Finally, JMP Securities started coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $232.07.

American Tower Trading Down 0.8 %

AMT opened at $217.71 on Thursday. The firm’s fifty day moving average is $200.67 and its two-hundred day moving average is $204.16. The firm has a market cap of $101.77 billion, a PE ratio of 91.86, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. 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 posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the company posted $2.29 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts anticipate that American Tower Co. will post 10.14 EPS for the current 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 paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.12%. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio is presently 141.37%.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

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.