Sava Infond d.o.o. Buys Shares of 7,410 American Tower Co. (NYSE:AMT)

Sava Infond d.o.o. purchased a new position in shares of American Tower Co. (NYSE:AMT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,410 shares of the real estate investment trust’s stock, valued at approximately $1,359,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMT. Adelante Capital Management LLC boosted its stake in American Tower by 2,723.4% during the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after buying an additional 1,160,890 shares during the period. Raymond James Financial Inc. acquired a new position in shares of American Tower in the 4th quarter worth approximately $193,246,000. Daiwa Securities Group Inc. increased its holdings in American Tower by 456.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust’s stock valued at $206,269,000 after purchasing an additional 922,701 shares during the last quarter. State Street Corp raised its position in American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after purchasing an additional 635,726 shares during the period. Finally, Brookfield Corp ON lifted its stake in American Tower by 88.3% during the third quarter. Brookfield Corp ON now owns 710,725 shares of the real estate investment trust’s stock worth $165,286,000 after purchasing an additional 333,209 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AMT shares. Wells Fargo & Company upgraded American Tower from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $210.00 to $230.00 in a report on Monday, March 17th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Barclays lifted their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. BMO Capital Markets raised their price target on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Hsbc Global Res raised American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, American Tower currently has a consensus rating of “Buy” and a consensus price target of $229.43.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

American Tower Trading Up 0.2 %

AMT opened at $209.91 on Thursday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a market cap of $98.12 billion, a P/E ratio of 88.57, a PEG ratio of 1.29 and a beta of 0.85. The business’s 50-day simple moving average is $197.91 and its 200-day simple moving average is $204.94.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. As a group, equities research analysts expect that American Tower Co. will post 10.14 EPS 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. Shareholders of record on Friday, April 11th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.24%. The ex-dividend date is Friday, April 11th. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is currently 141.37%.

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.