Capital Square LLC Decreases Stock Position in American Tower Co. (NYSE:AMT)

Capital Square LLC decreased its stake in shares of American Tower Co. (NYSE:AMT) by 22.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,059 shares of the real estate investment trust’s stock after selling 3,553 shares during the quarter. American Tower makes up 1.3% of Capital Square LLC’s investment portfolio, making the stock its 16th biggest holding. Capital Square LLC’s holdings in American Tower were worth $2,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Graney & King LLC purchased a new position in shares of American Tower in the 4th quarter valued at $32,000. Roxbury Financial LLC acquired a new position in American Tower in the fourth quarter valued at $32,000. Crowley Wealth Management Inc. purchased a new position in shares of American Tower during the fourth quarter worth about $37,000. Bank of Jackson Hole Trust acquired a new stake in shares of American Tower during the fourth quarter worth about $46,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of American Tower in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.2 %

Shares of AMT opened at $218.41 on Thursday. The firm’s 50-day moving average is $207.07 and its two-hundred day moving average is $202.78. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $102.10 billion, a P/E ratio of 92.16, a PEG ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion for 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 for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 earnings per share. On average, research analysts predict that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company 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 an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.11%. American Tower’s dividend payout ratio is presently 141.37%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup raised their price target on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Barclays lifted their target price on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Wells Fargo & Company upgraded shares of American Tower from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $210.00 to $230.00 in a research note on Monday, March 17th. Finally, JMP Securities assumed coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective on the stock. Two equities research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $232.07.

About American Tower

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.