American Tower Co. (NYSE:AMT) Shares Sold by Bernzott Capital Advisors

Bernzott Capital Advisors lessened its stake in American Tower Co. (NYSE:AMT) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,909 shares of the real estate investment trust’s stock after selling 3,365 shares during the period. American Tower accounts for approximately 3.3% of Bernzott Capital Advisors’ portfolio, making the stock its 10th largest position. Bernzott Capital Advisors’ holdings in American Tower were worth $6,769,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Bradley Foster & Sargent Inc. CT boosted its stake in shares of American Tower by 3.8% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 6,853 shares of the real estate investment trust’s stock worth $1,332,000 after buying an additional 251 shares during the period. E Fund Management Co. Ltd. boosted its stake in shares of American Tower by 140.6% during the second quarter. E Fund Management Co. Ltd. now owns 3,487 shares of the real estate investment trust’s stock worth $678,000 after buying an additional 2,038 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in shares of American Tower by 113.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 59,416 shares of the real estate investment trust’s stock worth $11,549,000 after buying an additional 31,616 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of American Tower by 11.0% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,456 shares of the real estate investment trust’s stock worth $1,449,000 after buying an additional 740 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of American Tower by 4.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 38,647 shares of the real estate investment trust’s stock worth $7,512,000 after buying an additional 1,757 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 5.5 %

Shares of American Tower stock opened at $190.26 on Friday. American Tower Co. has a 12-month low of $170.46 and a 12-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 stock has a market cap of $88.91 billion, a PE ratio of 80.28, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84. The company has a 50-day moving average of $193.24 and a two-hundred day moving average of $211.46.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the business posted $2.58 earnings per share. The company’s quarterly revenue was down 10.5% on a year-over-year basis. On average, research analysts anticipate that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.41%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets decreased their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. The Goldman Sachs Group decreased their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Scotiabank cut their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. Barclays cut their price target on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a report on Monday. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $230.67.

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.