Premier Fund Managers Ltd Sells 5,500 Shares of American Tower Co. (NYSE:AMT)

Premier Fund Managers Ltd decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,601 shares of the real estate investment trust’s stock after selling 5,500 shares during the quarter. Premier Fund Managers Ltd’s holdings in American Tower were worth $18,469,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in American Tower in the 3rd quarter valued at $34,000. Graney & King LLC acquired a new position in shares of American Tower during the fourth quarter valued at about $32,000. Roxbury Financial LLC bought a new stake in shares of American Tower in the fourth quarter valued at about $32,000. Crowley Wealth Management Inc. acquired a new stake in American Tower during the fourth quarter worth about $37,000. Finally, Hobbs Group Advisors LLC increased its stake in American Tower by 51.0% during the third quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 75 shares during the period. 92.69% of the stock is owned by institutional investors.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday, February 27th. The Goldman Sachs Group lowered their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Mizuho lowered their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays raised their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $229.43.

American Tower Stock Up 2.1 %

Shares of NYSE:AMT opened at $214.38 on Friday. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm has a market cap of $100.21 billion, a P/E ratio of 90.46, a P/E/G ratio of 1.29 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company’s 50-day moving average price is $198.39 and its two-hundred day moving average price is $205.01.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. American Tower’s revenue was up 3.7% compared to the same quarter last year. As a group, research analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is 141.37%.

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.