IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 765 Shares of American Tower Co. (NYSE:AMT)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its stake in shares of American Tower Co. (NYSE:AMT) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,592 shares of the real estate investment trust’s stock after selling 765 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in American Tower were worth $1,026,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Partners Group Holding AG lifted its holdings in American Tower by 8.3% during the 4th 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 last quarter. Nordea Investment Management AB raised its stake in shares of American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after acquiring an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of American Tower in the third quarter valued at approximately $1,156,000. TigerOak Management L.L.C. bought a new stake in American Tower during the 4th quarter worth approximately $1,102,000. Finally, Brookstone Capital Management increased its holdings 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 valued at $1,629,000 after purchasing an additional 1,995 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $214.38 on Friday. The firm has a fifty day moving average of $198.39 and a two-hundred day moving average of $205.01. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $100.21 billion, a price-to-earnings ratio of 90.46, a PEG ratio of 1.29 and a beta of 0.85. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last released 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 business 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 firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 earnings per share. As a group, equities research analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a dividend of $1.70 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.17%. American Tower’s dividend payout ratio (DPR) is presently 141.37%.

Wall Street Analyst Weigh In

A number of research firms have commented on AMT. Citigroup boosted their price objective on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Mizuho decreased their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company upgraded shares of American Tower from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Finally, The Goldman Sachs Group lowered their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, American Tower has an average rating of “Buy” and an average target price of $229.43.

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.