American Tower Co. (NYSE:AMT) Stock Holdings Reduced by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its position in shares of American Tower Co. (NYSE:AMT) by 10.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 880,251 shares of the real estate investment trust’s stock after selling 105,107 shares during the period. Russell Investments Group Ltd.’s holdings in American Tower were worth $161,389,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AMT. Roxbury Financial LLC acquired a new stake in American Tower in the fourth quarter valued at approximately $32,000. Graney & King LLC bought a new stake in American Tower in the fourth quarter worth $32,000. Legacy Investment Solutions LLC bought a new position in American Tower during the third quarter valued at about $34,000. Crowley Wealth Management Inc. acquired a new stake in shares of American Tower in the fourth quarter worth about $37,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of American Tower during the 4th quarter worth about $46,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of several analyst reports. Citigroup boosted their target price on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Wells Fargo & Company upgraded shares of 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 note on Monday, March 17th. Barclays boosted 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, March 21st. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Mizuho cut their price objective 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. Two investment 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $232.07.

American Tower Stock Down 3.4 %

Shares of AMT opened at $220.43 on Friday. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The stock has a market cap of $103.04 billion, a price-to-earnings ratio of 93.01, a P/E/G ratio of 1.29 and a beta of 0.87. The company has a 50-day moving average price of $202.22 and a two-hundred day moving average price of $204.19. 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 released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (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 firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the company posted $2.29 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.08%. This is a boost from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is 141.37%.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

American Tower Company 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.