Mondrian Investment Partners LTD Lowers Stake in American Tower Co. (NYSE:AMT)

Mondrian Investment Partners LTD lowered its stake in shares of American Tower Co. (NYSE:AMT) by 98.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,641 shares of the real estate investment trust’s stock after selling 474,085 shares during the period. Mondrian Investment Partners LTD’s holdings in American Tower were worth $1,413,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Roxbury Financial LLC purchased a new position in shares of American Tower during the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower during the 3rd quarter worth approximately $34,000. Activest Wealth Management boosted its position in shares of American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares during the period. Bank of Jackson Hole Trust purchased a new position in shares of American Tower during the 4th quarter worth approximately $46,000. Finally, Versant Capital Management Inc boosted its position in shares of American Tower by 113.9% during the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 139 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on 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 transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction 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 company insiders.

American Tower Price Performance

Shares of NYSE:AMT opened at $207.29 on Friday. 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 market capitalization of $96.90 billion, a P/E ratio of 87.46, a P/E/G ratio of 1.29 and a beta of 0.85. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company’s fifty day moving average price is $191.76 and its 200 day moving average price is $206.06.

American Tower (NYSE:AMT) last posted 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 for the quarter, compared to analyst estimates of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.29 earnings per share. As a group, sell-side analysts predict that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.28%. American Tower’s payout ratio is currently 141.37%.

Analysts Set New Price Targets

AMT has been the subject of several recent research reports. JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target for the company. Mizuho decreased their price target 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. Morgan Stanley decreased 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 research report on Monday, February 24th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, Scotiabank decreased their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $226.29.

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.