American Tower Co. (NYSE:AMT) Shares Bought by AMF Tjanstepension AB

AMF Tjanstepension AB lifted its position in shares of American Tower Co. (NYSE:AMT) by 143.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,031 shares of the real estate investment trust’s stock after acquiring an additional 113,178 shares during the quarter. AMF Tjanstepension AB’s holdings in American Tower were worth $35,259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in shares of American Tower during the 3rd quarter worth $139,000. Graypoint LLC increased its holdings in American Tower by 14.5% during the 3rd quarter. Graypoint LLC now owns 3,779 shares of the real estate investment trust’s stock valued at $879,000 after acquiring an additional 480 shares in the last quarter. Montecito Bank & Trust acquired a new position in American Tower during the third quarter worth about $210,000. Hara Capital LLC purchased a new stake in shares of American Tower in the third quarter valued at about $31,000. Finally, Portside Wealth Group LLC grew its position in shares of American Tower by 1.4% in the third quarter. Portside Wealth Group LLC now owns 5,695 shares of the real estate investment trust’s stock valued at $1,324,000 after purchasing an additional 81 shares during 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 firm’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 transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Scotiabank cut their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Barclays decreased their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, Mizuho decreased their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $225.21.

American Tower Stock Up 2.7 %

Shares of AMT opened at $212.49 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’s fifty day moving average is $189.60 and its two-hundred day moving average is $206.40. The firm has a market cap of $99.29 billion, a PE ratio of 89.66, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. 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 (NYSE:AMT) last issued its 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. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.29 earnings per share. Analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a $1.70 dividend. 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 3.20%. American Tower’s dividend payout ratio (DPR) is presently 134.72%.

American Tower Company 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.