American Tower Co. (NYSE:AMT) Shares Sold by Dudley Capital Management LLC

Dudley Capital Management LLC lowered its holdings in American Tower Co. (NYSE:AMT) by 7.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 9,957 shares of the real estate investment trust’s stock after selling 760 shares during the quarter. Dudley Capital Management LLC’s holdings in American Tower were worth $1,826,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Glenview Trust co increased its holdings in American Tower by 0.8% in the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock valued at $1,294,000 after purchasing an additional 54 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after buying an additional 58 shares during the period. Precedent Wealth Partners LLC grew its stake in shares of American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 58 shares in the last quarter. Resonant Capital Advisors LLC lifted its position in American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC boosted its holdings in American Tower by 2.9% in the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after acquiring an additional 61 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

AMT stock opened at $212.75 on Tuesday. The stock’s 50 day simple moving average is $196.71 and its 200 day simple moving average is $205.10. 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 $99.45 billion, a P/E ratio of 89.77, a P/E/G ratio of 1.29 and a beta of 0.85. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share 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 company 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 company earned $2.29 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts predict 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 paid a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s payout ratio is presently 141.37%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMT shares. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. BMO Capital Markets upped their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Wells Fargo & Company upgraded American Tower from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $210.00 to $230.00 in a research note on Monday, March 17th. Finally, The Goldman Sachs Group cut their price target on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. 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 stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Buy” and an average target price of $229.43.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’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 transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

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.