One Capital Management LLC Sells 244 Shares of American Tower Co. (NYSE:AMT)

One Capital Management LLC trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,352 shares of the real estate investment trust’s stock after selling 244 shares during the period. One Capital Management LLC’s holdings in American Tower were worth $1,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of American Tower by 3.1% in the 3rd 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. Geode Capital Management LLC raised its position in American Tower by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock worth $2,599,074,000 after buying an additional 204,426 shares during the last quarter. FMR LLC increased its holdings in shares of American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after purchasing an additional 2,152,646 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of American Tower by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,316,312 shares of the real estate investment trust’s stock valued at $975,065,000 after purchasing an additional 107,345 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock valued at $981,455,000 after purchasing an additional 38,436 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent research reports. Scotiabank cut their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company dropped their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Citigroup dropped their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Finally, The Goldman Sachs Group dropped their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Trading Down 0.9 %

Shares of AMT opened at $206.89 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 quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm’s fifty day moving average is $188.99 and its two-hundred day moving average is $206.45. The stock has a market cap of $96.68 billion, a PE ratio of 87.29, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS 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 business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the firm earned $2.29 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.29%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is currently 134.72%.

About American Tower

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.