26,287 Shares in American Tower Co. (NYSE:AMT) Bought by Heritage Trust Co

Heritage Trust Co bought a new position in shares of American Tower Co. (NYSE:AMT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 26,287 shares of the real estate investment trust's stock, valued at approximately $4,821,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Partners Group Holding AG raised its holdings in shares of American Tower by 8.3% during the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock worth $69,438,000 after acquiring an additional 28,988 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust's stock worth $260,743,000 after buying an additional 314,769 shares during the last quarter. TigerOak Management L.L.C. purchased a new stake in shares of American Tower during the 4th quarter valued at about $1,102,000. Brookstone Capital Management lifted its holdings in shares of American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock valued at $1,629,000 after acquiring an additional 1,995 shares during the last quarter. Finally, CCLA Investment Management grew its position in American Tower by 5.5% in the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust's stock worth $79,344,000 after acquiring an additional 22,523 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have issued reports on AMT. Scotiabank decreased their price objective on American Tower from $236.00 to $220.00 and set a "sector outperform" rating on the stock in a research report on Thursday, January 23rd. JMP Securities assumed coverage on American Tower in a research report on Monday, January 27th. They issued an "outperform" rating and a $225.00 price target for the company. BMO Capital Markets boosted their price objective 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. Morgan Stanley assumed coverage on shares of American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price on the stock. Finally, Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, American Tower presently has a consensus rating of "Buy" and a consensus price target of $232.07.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 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. The trade was a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.18% of the company's stock.

American Tower Stock Up 0.0 %

AMT stock traded up $0.07 on Tuesday, hitting $217.86. 3,641,901 shares of the company's stock were exchanged, compared to its average volume of 2,463,962. The firm has a 50 day moving average price of $205.92 and a two-hundred day moving average price of $202.56. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The stock has a market cap of $101.84 billion, a P/E ratio of 91.92, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. 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 (NYSE:AMT - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company's revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.29 earnings per share. 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. Stockholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. This is an increase from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, April 11th. American Tower's payout ratio is presently 141.37%.

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.