USS Investment Management Ltd Sells 9,308 Shares of American Tower Co. (NYSE:AMT)

USS Investment Management Ltd lessened its position in American Tower Co. (NYSE:AMT) by 10.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 80,662 shares of the real estate investment trust’s stock after selling 9,308 shares during the period. USS Investment Management Ltd’s holdings in American Tower were worth $14,790,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Minot DeBlois Advisors LLC bought a new stake in shares of American Tower in the fourth quarter worth about $29,000. Roxbury Financial LLC purchased a new stake in American Tower in the 4th quarter worth approximately $32,000. Graney & King LLC bought a new stake in shares of American Tower in the 4th quarter worth approximately $32,000. Crowley Wealth Management Inc. purchased a new position in shares of American Tower during the fourth quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of American Tower during the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

AMT stock opened at $215.45 on Wednesday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $100.86 billion, a price-to-earnings ratio of 90.91, a PEG ratio of 1.29 and a beta of 0.86. The firm has a 50 day moving average price of $215.27 and a 200-day moving average price of $201.59. American Tower Co. has a 52-week low of $172.51 and a 52-week high of $243.56.

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

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s dividend payout ratio (DPR) is 174.81%.

Analyst Ratings Changes

Several research firms recently weighed in on AMT. Citigroup lifted their price target on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Raymond James boosted their price target on shares of American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a research report on Wednesday, April 30th. Bank of America began coverage on shares of American Tower in a research note on Monday. They issued a “buy” rating and a $255.00 price target for the company. Finally, Scotiabank lifted their price objective on American Tower from $234.00 to $248.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $240.25.

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.