GLOBALT Investments LLC GA Has $1.21 Million Stock Holdings in American Tower Co. (NYSE:AMT)

GLOBALT Investments LLC GA decreased its stake in American Tower Co. (NYSE:AMT) by 67.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,606 shares of the real estate investment trust’s stock after selling 13,486 shares during the period. GLOBALT Investments LLC GA’s holdings in American Tower were worth $1,212,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Empowered Funds LLC boosted its position in shares of American Tower by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 9,935 shares of the real estate investment trust’s stock valued at $2,310,000 after purchasing an additional 508 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of American Tower by 20.7% during the 3rd quarter. Natixis Advisors LLC now owns 177,947 shares of the real estate investment trust’s stock valued at $41,383,000 after purchasing an additional 30,499 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of American Tower by 1.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 130,175 shares of the real estate investment trust’s stock valued at $30,273,000 after purchasing an additional 1,453 shares in the last quarter. Quest Partners LLC boosted its position in shares of American Tower by 412.8% during the 3rd quarter. Quest Partners LLC now owns 7,836 shares of the real estate investment trust’s stock valued at $1,822,000 after purchasing an additional 6,308 shares in the last quarter. Finally, Strengthening Families & Communities LLC boosted its position in shares of American Tower by 8.0% during the 3rd quarter. Strengthening Families & Communities LLC now owns 10,523 shares of the real estate investment trust’s stock valued at $2,447,000 after purchasing an additional 778 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $213.17 on Tuesday. The company has a market cap of $99.65 billion, a PE ratio of 89.95, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The business has a 50 day moving average price of $192.99 and a 200-day moving average price of $205.61. 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 data 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. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.29 earnings per share. Equities analysts anticipate that American Tower Co. will post 10.14 earnings per share 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. Investors of record on Friday, April 11th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.19%. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 141.37%.

Analysts Set New Price Targets

Several brokerages recently commented on AMT. Barclays cut their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Mizuho cut their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Citigroup upped their target price on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, March 10th. The Goldman Sachs Group cut their price target on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, BMO Capital Markets increased their price target on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $228.79.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

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.