Vinva Investment Management Ltd Grows Stock Position in American Tower Co. (NYSE:AMT)

Vinva Investment Management Ltd boosted its stake in shares of American Tower Co. (NYSE:AMT) by 5.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 26,600 shares of the real estate investment trust’s stock after buying an additional 1,439 shares during the period. Vinva Investment Management Ltd’s holdings in American Tower were worth $4,839,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Xponance Inc. raised its holdings in American Tower by 2.3% during the 4th quarter. Xponance Inc. now owns 115,244 shares of the real estate investment trust’s stock valued at $21,137,000 after buying an additional 2,575 shares during the period. Generali Asset Management SPA SGR purchased a new stake in American Tower in the fourth quarter worth $9,485,000. Evoke Wealth LLC increased its stake in American Tower by 6.9% in the fourth quarter. Evoke Wealth LLC now owns 1,472 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 95 shares during the period. Horizon Investments LLC increased its stake in American Tower by 2.2% in the fourth quarter. Horizon Investments LLC now owns 13,137 shares of the real estate investment trust’s stock worth $2,409,000 after purchasing an additional 284 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in American Tower by 0.9% in the fourth quarter. Advisors Asset Management Inc. now owns 107,745 shares of the real estate investment trust’s stock worth $19,762,000 after purchasing an additional 995 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of AMT stock opened at $213.83 on Thursday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock’s 50-day moving average is $194.43 and its 200 day moving average is $205.60. The company has a market cap of $99.95 billion, a P/E ratio of 90.22, a PEG ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the company earned $2.29 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts predict that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.18%. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is presently 141.37%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AMT shares. Citigroup increased their target price on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Barclays reduced their target price 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. Morgan Stanley reduced their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, JMP Securities initiated coverage on American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $228.79.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.