Duff & Phelps Investment Management Co. Cuts Stock Holdings in American Tower Co. (NYSE:AMT)

Duff & Phelps Investment Management Co. decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 0.3% during the fourth quarter, HoldingsChannel reports. The firm owned 910,738 shares of the real estate investment trust’s stock after selling 2,351 shares during the period. American Tower comprises 2.0% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 8th largest holding. Duff & Phelps Investment Management Co.’s holdings in American Tower were worth $167,038,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in AMT. Partners Group Holding AG raised its stake in shares of American Tower by 8.3% in the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock worth $69,438,000 after purchasing an additional 28,988 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after acquiring an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in American Tower during the third quarter worth $1,156,000. TigerOak Management L.L.C. acquired a new position in shares of American Tower in the 4th quarter worth approximately $1,102,000. Finally, Brookstone Capital Management increased its stake in American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after buying an additional 1,995 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’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 completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

American Tower Price Performance

Shares of NYSE AMT opened at $214.38 on Friday. 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 Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The firm has a market cap of $100.21 billion, a P/E ratio of 90.46, a PEG ratio of 1.29 and a beta of 0.85. The company has a 50 day moving average of $198.39 and a 200 day moving average of $205.01.

American Tower (NYSE:AMT) last announced 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. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 earnings per share. As a group, research analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal 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 $1.70 dividend. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.17%. This is a boost from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is presently 141.37%.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMT shares. JMP Securities started coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. Scotiabank lowered their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Morgan Stanley lowered their price target on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Finally, BMO Capital Markets upped their target price on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $229.43.

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.