Land & Buildings Investment Management LLC Sells 34,130 Shares of American Tower Co. (NYSE:AMT)

Land & Buildings Investment Management LLC cut its position in American Tower Co. (NYSE:AMT) by 35.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,807 shares of the real estate investment trust’s stock after selling 34,130 shares during the quarter. American Tower comprises about 2.3% of Land & Buildings Investment Management LLC’s portfolio, making the stock its 16th biggest holding. Land & Buildings Investment Management LLC’s holdings in American Tower were worth $11,519,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its holdings in shares of American Tower by 17.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 702 shares of the real estate investment trust’s stock worth $129,000 after buying an additional 106 shares in the last quarter. Czech National Bank raised its holdings in shares of American Tower by 6.5% during the 4th quarter. Czech National Bank now owns 101,318 shares of the real estate investment trust’s stock worth $18,583,000 after buying an additional 6,169 shares in the last quarter. Fiduciary Alliance LLC raised its holdings in shares of American Tower by 188.3% during the 4th quarter. Fiduciary Alliance LLC now owns 4,950 shares of the real estate investment trust’s stock worth $908,000 after buying an additional 3,233 shares in the last quarter. Trust Co. of Toledo NA OH raised its holdings in shares of American Tower by 4.9% during the 4th quarter. Trust Co. of Toledo NA OH now owns 8,228 shares of the real estate investment trust’s stock worth $1,509,000 after buying an additional 382 shares in the last quarter. Finally, Brookstone Capital Management raised its holdings in shares of American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after buying an additional 1,995 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Up 1.0%

Shares of American Tower stock opened at $219.96 on Monday. The stock’s 50-day moving average is $215.14 and its 200 day moving average is $201.77. The firm has a market cap of $102.82 billion, a price-to-earnings ratio of 92.81, a PEG ratio of 1.29 and a beta of 0.86. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a one year low of $172.51 and a one year high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.34. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 earnings per share. Equities research analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, April 11th were paid a $1.70 dividend. The ex-dividend date was Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.09%. American Tower’s payout ratio is presently 174.81%.

Analyst Ratings Changes

A number of equities analysts have recently commented on AMT shares. UBS Group boosted their price target on American Tower from $245.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Wells Fargo & Company upped their target price on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. JMP Securities upped their target price on American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 30th. Finally, Barclays upped their target price on American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $239.27.

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.