USS Investment Management Ltd Sells 9,308 Shares of American Tower Co. (NYSE:AMT)

USS Investment Management Ltd trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 80,662 shares of the real estate investment trust’s stock after selling 9,308 shares during the period. USS Investment Management Ltd’s holdings in American Tower were worth $14,790,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Glenview Trust co lifted its holdings in shares of American Tower by 0.8% during the fourth 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. CreativeOne Wealth LLC lifted its stake in American Tower by 2.1% during the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust’s stock valued at $477,000 after acquiring an additional 54 shares during the period. Precedent Wealth Partners LLC boosted its holdings in shares of American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 58 shares during the last quarter. Safe Harbor Fiduciary LLC boosted its holdings in shares of American Tower by 1.1% during the 4th quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust’s stock valued at $978,000 after acquiring an additional 58 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its stake 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 worth $206,000 after acquiring an additional 61 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.1%

NYSE AMT opened at $215.45 on Wednesday. The stock’s 50-day moving average price is $215.27 and its 200-day moving average price is $201.59. The company has a market capitalization of $100.86 billion, a P/E ratio of 90.91, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. 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 52 week low of $172.51 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.79 EPS. On average, equities research analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, June 13th. American Tower’s dividend payout ratio is currently 174.81%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMT shares. BMO Capital Markets increased 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. Bank of America initiated coverage on American Tower in a report on Monday. They set a “buy” rating and a $255.00 price target on the stock. Wells Fargo & Company raised their price target on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Citigroup increased their target price on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $240.25.

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.