Brasada Capital Management LP Lowers Stock Holdings in American Tower Co. (NYSE:AMT)

Brasada Capital Management LP lessened its stake in shares of American Tower Co. (NYSE:AMT) by 12.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,684 shares of the real estate investment trust’s stock after selling 5,231 shares during the quarter. American Tower comprises approximately 1.1% of Brasada Capital Management LP’s portfolio, making the stock its 27th biggest position. Brasada Capital Management LP’s holdings in American Tower were worth $6,314,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Roxbury Financial LLC acquired a new stake in American Tower in the fourth quarter valued at about $32,000. Graney & King LLC acquired a new stake in American Tower in the fourth quarter valued at $32,000. Crowley Wealth Management Inc. acquired a new position in shares of American Tower during the 4th quarter worth $37,000. Bank of Jackson Hole Trust purchased a new position in shares of American Tower in the 4th quarter valued at about $46,000. Finally, Versant Capital Management Inc boosted its holdings in American Tower by 113.9% during the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 139 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Citigroup increased their price target on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Barclays raised their price target on 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 raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Scotiabank boosted their price objective on shares of American Tower from $220.00 to $234.00 and gave the company a “sector outperform” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $233.07.

American Tower Stock Performance

American Tower stock opened at $221.08 on Wednesday. The firm has a market capitalization of $103.34 billion, a PE ratio of 93.28, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The stock’s 50 day moving average price is $209.52 and its 200 day moving average price is $202.35. 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 (NYSE:AMT) last posted 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. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the previous 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. As a group, sell-side analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders 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 3.08%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s payout ratio is presently 141.37%.

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.