American Tower Co. (NYSE:AMT) Shares Bought by Invesco Ltd.

Invesco Ltd. increased its stake in shares of American Tower Co. (NYSE:AMT) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,941,586 shares of the real estate investment trust’s stock after buying an additional 455,225 shares during the quarter. Invesco Ltd. owned about 1.27% of American Tower worth $1,089,746,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in American Tower during the 3rd quarter worth $110,000. Quantinno Capital Management LP increased its position in American Tower by 29.8% during the 3rd quarter. Quantinno Capital Management LP now owns 22,055 shares of the real estate investment trust’s stock worth $5,129,000 after purchasing an additional 5,064 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in American Tower during the third quarter worth $1,287,000. National Bank of Canada FI lifted its holdings in American Tower by 73.1% in the third quarter. National Bank of Canada FI now owns 305,708 shares of the real estate investment trust’s stock valued at $71,095,000 after acquiring an additional 129,070 shares during the period. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the third quarter valued at about $34,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays lifted their price target on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. JMP Securities began coverage on shares of American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Morgan Stanley initiated coverage on American Tower in a research report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price target for the company. Finally, Scotiabank cut their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, American Tower currently has an average rating of “Buy” and a consensus price target of $232.07.

American Tower Trading Down 3.4 %

AMT opened at $220.43 on Monday. The firm’s 50 day moving average is $202.22 and its 200-day moving average is $203.72. The firm has a market capitalization of $103.04 billion, a P/E ratio of 93.01, a P/E/G ratio of 1.29 and a beta of 0.87. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. 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 quarterly earnings results 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. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the business posted $2.29 earnings per share. American Tower’s revenue for the quarter was up 3.7% on a year-over-year basis. 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 issued a dividend of $1.70 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’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 sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.18% of the company’s stock.

About American Tower

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.