American Tower Co. (NYSE:AMT) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lowered its position in shares of American Tower Co. (NYSE:AMT) by 29.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,700 shares of the real estate investment trust’s stock after selling 13,273 shares during the period. Loomis Sayles & Co. L P’s holdings in American Tower were worth $5,815,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Larson Financial Group LLC lifted its stake in American Tower by 49.3% during the third quarter. Larson Financial Group LLC now owns 227 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 75 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of American Tower during the 3rd quarter worth approximately $1,843,000. CreativeOne Wealth LLC boosted its holdings in shares of American Tower by 33.1% in the 3rd quarter. CreativeOne Wealth LLC now owns 2,547 shares of the real estate investment trust’s stock valued at $592,000 after buying an additional 633 shares in the last quarter. Icon Wealth Advisors LLC grew its position in shares of American Tower by 11.7% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,165 shares of the real estate investment trust’s stock valued at $736,000 after buying an additional 332 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in American Tower by 0.3% during the 3rd quarter. Captrust Financial Advisors now owns 71,248 shares of the real estate investment trust’s stock worth $16,569,000 after acquiring an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $215.52 on Friday. 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 50 day simple moving average of $198.89 and a 200-day simple moving average of $204.58. The company has a market cap of $100.74 billion, a price-to-earnings ratio of 90.94, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.29 earnings per share. On average, equities analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a dividend of $1.70 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio is presently 141.37%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AMT shares. Morgan Stanley dropped their price objective on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday, February 27th. JMP Securities began coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Finally, Scotiabank reduced their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $229.43.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

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.