Stevens Capital Management LP Sells 11,330 Shares of American Tower Co. (NYSE:AMT)

Stevens Capital Management LP lowered its position in shares of American Tower Co. (NYSE:AMT) by 62.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,830 shares of the real estate investment trust’s stock after selling 11,330 shares during the period. Stevens Capital Management LP’s holdings in American Tower were worth $1,253,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of American Tower during the third quarter valued at approximately $34,000. Roxbury Financial LLC bought a new stake in shares of American Tower during the fourth quarter valued at approximately $32,000. Hobbs Group Advisors LLC grew its position in American Tower by 51.0% in the 3rd quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 75 shares during the period. Larson Financial Group LLC grew its position in American Tower by 49.3% in the 3rd quarter. Larson Financial Group LLC now owns 227 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 75 shares during the period. Finally, Bank of Jackson Hole Trust bought a new stake in American Tower in the 4th quarter worth approximately $46,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 1.0 %

AMT opened at $216.41 on Friday. 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 Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm’s fifty day moving average is $195.99 and its 200 day moving average is $205.43. The stock has a market cap of $101.16 billion, a price-to-earnings ratio of 91.31, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating 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 analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the company earned $2.29 EPS. American Tower’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders 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 3.14%. The ex-dividend date of this dividend is Friday, April 11th. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is 141.37%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Barclays lifted their target price on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday. 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 research report on Thursday, January 23rd. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Finally, BMO Capital Markets lifted their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, American Tower has a consensus rating of “Buy” and a consensus target price of $229.43.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

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.