American Tower Co. (NYSE:AMT) Shares Sold by Groupama Asset Managment

Groupama Asset Managment lowered its holdings in shares of American Tower Co. (NYSE:AMT) by 3.2% in the fourth quarter, Holdings Channel reports. The firm owned 94,472 shares of the real estate investment trust’s stock after selling 3,095 shares during the quarter. Groupama Asset Managment’s holdings in American Tower were worth $17,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Roxbury Financial LLC acquired a new stake in shares of American Tower during the fourth quarter worth about $32,000. Graney & King LLC acquired a new stake in American Tower during the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower in the 3rd quarter valued at approximately $34,000. Crowley Wealth Management Inc. purchased a new stake in shares of American Tower during the fourth quarter worth approximately $37,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of American Tower during the fourth quarter worth $46,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

American Tower Trading Up 1.0 %

Shares of AMT stock opened at $217.78 on Tuesday. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a market capitalization of $101.80 billion, a price-to-earnings ratio of 91.89, a PEG ratio of 1.29 and a beta of 0.85. The firm has a 50-day moving average price of $199.44 and a 200 day moving average price of $204.20. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion during 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%. American Tower’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.29 EPS. Research 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 declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is 141.37%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Morgan Stanley cut their price target on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $210.00 to $230.00 in a report on Monday, March 17th. Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, BMO Capital Markets increased their price objective on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $229.43.

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.