American Assets Capital Advisers LLC Has $18.09 Million Position in American Tower Co. (NYSE:AMT)

American Assets Capital Advisers LLC lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,620 shares of the real estate investment trust’s stock after selling 5,380 shares during the quarter. American Tower comprises 6.0% of American Assets Capital Advisers LLC’s portfolio, making the stock its 4th biggest holding. American Assets Capital Advisers LLC’s holdings in American Tower were worth $18,088,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Assetmark Inc. grew its position in shares of American Tower by 227.0% during the third quarter. Assetmark Inc. now owns 2,364 shares of the real estate investment trust’s stock valued at $550,000 after purchasing an additional 1,641 shares in the last quarter. Zions Bancorporation N.A. boosted its stake in American Tower by 7.8% during the third quarter. Zions Bancorporation N.A. now owns 1,743 shares of the real estate investment trust’s stock valued at $405,000 after buying an additional 126 shares during the last quarter. Impax Asset Management Group plc grew its holdings in American Tower by 68.9% during the 3rd quarter. Impax Asset Management Group plc now owns 33,925 shares of the real estate investment trust’s stock valued at $7,890,000 after buying an additional 13,834 shares in the last quarter. CIBC Asset Management Inc increased its stake in American Tower by 4.4% in the 3rd quarter. CIBC Asset Management Inc now owns 88,610 shares of the real estate investment trust’s stock worth $20,607,000 after acquiring an additional 3,720 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of American Tower by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 9,935 shares of the real estate investment trust’s stock worth $2,310,000 after acquiring an additional 508 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Mizuho decreased 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 report on Wednesday, January 8th. Wells Fargo & Company dropped their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Finally, Barclays lowered their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.29.

American Tower Stock Performance

Shares of American Tower stock opened at $211.02 on Friday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a market capitalization of $98.64 billion, a PE ratio of 89.04, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The stock’s fifty day moving average is $192.33 and its two-hundred day moving average is $205.82. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm 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 business posted $2.29 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business 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 3.22%. The ex-dividend date of this dividend is Friday, April 11th. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is currently 141.37%.

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.