American Tower Co. (NYSE:AMT) Position Increased by Andra AP fonden

Andra AP fonden increased its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 21.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,700 shares of the real estate investment trust's stock after acquiring an additional 17,700 shares during the period. Andra AP fonden's holdings in American Tower were worth $18,469,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Hara Capital LLC acquired a new position in American Tower during the third quarter worth $31,000. Roxbury Financial LLC acquired a new position in American Tower during the fourth quarter worth $32,000. Legacy Investment Solutions LLC acquired a new position in American Tower during the third quarter worth $34,000. Activest Wealth Management increased its position in American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust's stock worth $36,000 after buying an additional 125 shares during the last quarter. Finally, Bank of Jackson Hole Trust acquired a new position in American Tower during the fourth quarter worth $46,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Up 2.7 %

NYSE AMT opened at $212.49 on Friday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a 50-day simple moving average of $189.60 and a 200 day simple moving average of $206.40. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The stock has a market cap of $99.29 billion, a PE ratio of 89.66, a PEG ratio of 1.29 and a beta of 0.85.

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American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.83. The business had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm's revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $2.29 earnings per share. On average, research analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. This is a boost from American Tower's previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.20%. American Tower's dividend payout ratio (DPR) is currently 134.72%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Wells Fargo & Company lowered their price target on American Tower from $215.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. JMP Securities began coverage on American Tower in a research report on Monday, January 27th. They issued an "outperform" rating and a $225.00 price target on the stock. The Goldman Sachs Group lowered their price target on American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. Finally, Mizuho lowered their price target on American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, American Tower currently has an average rating of "Moderate Buy" and an average target price of $225.21.

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 shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.

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