American Tower Co. (NYSE:AMT) Shares Acquired by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of American Tower Co. (NYSE:AMT) by 9,885.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 131,315 shares of the real estate investment trust’s stock after acquiring an additional 130,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in American Tower were worth $28,569,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. McClarren Financial Advisors Inc. purchased a new stake in shares of American Tower in the 3rd quarter valued at about $27,000. Emerald Advisers LLC purchased a new stake in American Tower during the 3rd quarter valued at approximately $29,000. Thompson Investment Management Inc. purchased a new stake in American Tower during the 4th quarter valued at approximately $29,000. Pinnacle Holdings LLC purchased a new stake in American Tower during the 1st quarter valued at approximately $29,000. Finally, Eagle Bay Advisors LLC purchased a new position in shares of American Tower during the 2nd quarter worth approximately $30,000. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Up 0.4 %

AMT stock traded up $0.71 during trading on Wednesday, reaching $172.92. The stock had a trading volume of 1,695,233 shares, compared to its average volume of 2,406,669. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. The company has a market capitalization of $80.64 billion, a P/E ratio of 54.15, a PEG ratio of 1.24 and a beta of 0.67. The firm has a fifty day moving average price of $193.26 and a 200 day moving average price of $193.74.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the prior year, the firm earned $2.34 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts anticipate that American Tower Co. will post 10.05 earnings per share for the current year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a $1.62 dividend. The ex-dividend date is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.75%. American Tower’s dividend payout ratio is currently 203.77%.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMT. Barclays increased their target price on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Morgan Stanley upped their price target on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday. JPMorgan Chase & Co. lowered their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. BMO Capital Markets lowered their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Finally, Mizuho assumed coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.36.

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.