Dean Investment Associates LLC Sells 2,264 Shares of American Tower Co. (NYSE:AMT)

Dean Investment Associates LLC lowered its position in American Tower Co. (NYSE:AMT) by 11.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 17,870 shares of the real estate investment trust’s stock after selling 2,264 shares during the period. Dean Investment Associates LLC’s holdings in American Tower were worth $3,278,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AMT. Glenview Trust co raised its stake in shares of American Tower by 0.8% during the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock worth $1,294,000 after buying an additional 54 shares during the last quarter. CreativeOne Wealth LLC raised its position in American Tower by 2.1% during the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust’s stock worth $477,000 after acquiring an additional 54 shares during the last quarter. Precedent Wealth Partners LLC lifted its holdings 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 purchasing an additional 58 shares in the last quarter. Resonant Capital Advisors LLC grew its position in shares of American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 61 shares during the last quarter. Finally, Calamos Wealth Management LLC increased its stake in shares of American Tower by 2.9% during the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.2 %

AMT opened at $218.41 on Thursday. The stock’s fifty day moving average is $207.07 and its 200-day moving average is $202.78. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a market capitalization of $102.10 billion, a PE ratio of 92.16, a P/E/G ratio of 1.29 and a beta of 0.87. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 EPS. On average, equities analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company 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 dividend of $1.70 per share. This is an increase from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s payout ratio is 141.37%.

Analysts Set New Price Targets

Several research analysts recently weighed in on AMT shares. Scotiabank cut their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company upgraded shares of American Tower from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $210.00 to $230.00 in a report on Monday, March 17th. Mizuho dropped their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BMO Capital Markets lifted their target price on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, Morgan Stanley initiated coverage on American Tower in a research report on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $232.07.

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.