Diversified Trust Co Sells 739 Shares of American Tower Co. (NYSE:AMT)

Diversified Trust Co reduced its stake in American Tower Co. (NYSE:AMT) by 15.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,011 shares of the real estate investment trust’s stock after selling 739 shares during the quarter. Diversified Trust Co’s holdings in American Tower were worth $736,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC increased its holdings in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC bought a new position in shares of American Tower during the 2nd quarter worth $27,000. Northwest Investment Counselors LLC purchased a new position in shares of American Tower during the third quarter valued at $30,000. Hara Capital LLC bought a new stake in shares of American Tower in the 3rd quarter valued at about $31,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of American Tower during the third quarter valued at approximately $34,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AMT shares. Mizuho dropped their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday. Barclays cut their price objective on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Scotiabank cut their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Finally, BMO Capital Markets decreased their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $233.67.

American Tower Stock Up 1.1 %

AMT stock opened at $179.15 on Friday. The company has a market capitalization of $83.71 billion, a P/E ratio of 75.59, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm’s fifty day simple moving average is $195.74 and its 200-day simple moving average is $211.81. 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 (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the company posted $2.58 EPS. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.