Belmont Capital LLC Sells 2,051 Shares of American Tower Co. (NYSE:AMT)

Belmont Capital LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 85.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345 shares of the real estate investment trust’s stock after selling 2,051 shares during the quarter. Belmont Capital LLC’s holdings in American Tower were worth $63,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Graney & King LLC bought a new position in shares of American Tower in the fourth quarter valued at $32,000. Roxbury Financial LLC bought a new position in American Tower in the 4th quarter valued at about $32,000. Crowley Wealth Management Inc. acquired a new position in American Tower during the 4th quarter valued at about $37,000. Bank of Jackson Hole Trust bought a new stake in shares of American Tower in the 4th quarter worth $46,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of American Tower in the fourth quarter valued at about $48,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of recent analyst reports. Citigroup upped their price objective on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $210.00 to $230.00 in a research report on Monday, March 17th. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $232.07.

American Tower Stock Up 2.3 %

Shares of AMT opened at $223.03 on Friday. The business’s 50 day simple moving average is $207.73 and its 200-day simple moving average is $202.71. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a market capitalization of $104.26 billion, a price-to-earnings ratio of 94.10, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion for 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. As a group, equities analysts expect 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. Investors of record on Friday, April 11th will be paid a dividend of $1.70 per share. This is a boost 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 3.05%. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s dividend payout ratio is 141.37%.

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.