Coastline Trust Co Has $94,000 Stock Position in American Tower Co. (NYSE:AMT)

Coastline Trust Co trimmed its stake in American Tower Co. (NYSE:AMT) by 48.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 510 shares of the real estate investment trust’s stock after selling 487 shares during the period. Coastline Trust Co’s holdings in American Tower were worth $94,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AMT. Partners Group Holding AG increased its position in shares of American Tower by 8.3% during the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock valued at $69,438,000 after purchasing an additional 28,988 shares during the period. Nordea Investment Management AB boosted its stake in American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after buying an additional 314,769 shares in the last quarter. TigerOak Management L.L.C. bought a new stake in American Tower in the 4th quarter valued at $1,102,000. Brookstone Capital Management raised its stake in shares of American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after buying an additional 1,995 shares in the last quarter. Finally, CCLA Investment Management lifted its holdings in shares of American Tower by 5.5% during the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock worth $79,344,000 after acquiring an additional 22,523 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 2.3 %

AMT opened at $223.03 on Friday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a market cap of $104.26 billion, a price-to-earnings ratio of 94.10, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a 50 day simple moving average of $208.33 and a 200 day simple moving average of $202.44.

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

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.05%. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent research reports. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. JMP Securities began coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Citigroup boosted their target price on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Barclays lifted their price target on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Finally, Mizuho reduced their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Buy” and a consensus target price of $232.07.

American Tower 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.