APG Asset Management N.V. Acquires Shares of 292,487 American Tower Co. (NYSE:AMT)

APG Asset Management N.V. purchased a new position in American Tower Co. (NYSE:AMT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 292,487 shares of the real estate investment trust's stock, valued at approximately $51,806,000. APG Asset Management N.V. owned about 0.06% of American Tower at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Glenview Trust co lifted its holdings in shares of American Tower by 0.8% in the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock worth $1,294,000 after buying an additional 54 shares during the period. Rehmann Capital Advisory Group lifted its stake in American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock worth $332,000 after acquiring an additional 58 shares during the period. Precedent Wealth Partners LLC grew its holdings in American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock worth $235,000 after acquiring an additional 58 shares in the last quarter. Resonant Capital Advisors LLC boosted its stake in shares of American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock valued at $206,000 after purchasing an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC raised its stake in American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock worth $398,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

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Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The shares were 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 directly owns 62,792 shares in the company, 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 SEC, which is accessible through this link. 0.18% of the stock is currently owned by insiders.

American Tower Stock Up 1.6 %

Shares of NYSE:AMT traded up $3.46 on Monday, hitting $216.68. 568,381 shares of the company's stock were exchanged, compared to its average volume of 2,800,603. 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 1-year low of $170.46 and a 1-year high of $243.56. The company has a market capitalization of $101.29 billion, a PE ratio of 91.43, a P/E/G ratio of 1.29 and a beta of 0.87. The firm's 50-day moving average is $205.31 and its 200 day moving average is $202.65.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $2.51 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. The firm's revenue was up 3.7% on a year-over-year basis. Sell-side analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This is a boost from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.14%. American Tower's payout ratio is 141.37%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AMT shares. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. BMO Capital Markets upped their price target on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Wells Fargo & Company raised shares of American Tower from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $210.00 to $230.00 in a research note on Monday, March 17th. Citigroup upped their price target on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Finally, Morgan Stanley initiated coverage on shares of American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price objective on the stock. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $232.07.

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.