American Tower Co. (NYSE:AMT) Shares Sold by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 12.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,148 shares of the real estate investment trust’s stock after selling 447 shares during the period. Main Street Financial Solutions LLC’s holdings in American Tower were worth $577,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in American Tower during the 3rd quarter worth approximately $1,784,000. Destination Wealth Management increased its position in shares of American Tower by 2.7% during the third quarter. Destination Wealth Management now owns 94,992 shares of the real estate investment trust’s stock worth $22,091,000 after purchasing an additional 2,517 shares in the last quarter. Tidal Investments LLC increased its position in shares of American Tower by 5.4% during the third quarter. Tidal Investments LLC now owns 19,990 shares of the real estate investment trust’s stock worth $4,649,000 after purchasing an additional 1,032 shares in the last quarter. Franklin Resources Inc. lifted its holdings in American Tower by 0.9% in 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. Finally, Inspire Trust Co. N.A. lifted its holdings in American Tower by 19.3% in the 3rd quarter. Inspire Trust Co. N.A. now owns 7,800 shares of the real estate investment trust’s stock valued at $1,814,000 after purchasing an additional 1,260 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AMT. Morgan Stanley assumed coverage on shares of American Tower in a research report on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 target price for the company. Mizuho lowered their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Citigroup upped their price target on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $210.00 to $230.00 in a research note on Monday, March 17th. Finally, Hsbc Global Res raised American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $232.07.

American Tower Trading Up 0.2 %

NYSE AMT opened at $218.41 on Thursday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The firm has a 50 day moving average of $207.07 and a two-hundred day moving average of $202.78. 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 stock has a market capitalization of $102.10 billion, a PE ratio of 92.16, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 10.05% and a return on equity of 22.01%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 earnings per share. As a group, research analysts expect that American Tower Co. will post 10.14 EPS 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. Shareholders of record on Friday, April 11th will be paid a $1.70 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.11%. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio is currently 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.