Aviva PLC boosted its position in American Tower Co. (NYSE:AMT - Free Report) by 13.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 388,487 shares of the real estate investment trust's stock after acquiring an additional 46,009 shares during the period. Aviva PLC owned 0.08% of American Tower worth $71,252,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in American Tower in the third quarter valued at approximately $34,000. Graney & King LLC bought a new stake in American Tower in the 4th quarter valued at $32,000. Roxbury Financial LLC acquired a new position in American Tower in the 4th quarter worth $32,000. Crowley Wealth Management Inc. bought a new position in American Tower during the 4th quarter worth about $37,000. Finally, Hobbs Group Advisors LLC raised its stake in shares of American Tower by 51.0% in the 3rd quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 75 shares during the period. 92.69% of the stock is owned by institutional investors.
American Tower Stock Performance
NYSE AMT traded up $4.70 during trading on Friday, reaching $211.32. The company's stock had a trading volume of 773,789 shares, compared to its average volume of 2,464,322. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm has a 50 day moving average price of $204.73 and a 200 day moving average price of $203.01. The firm has a market capitalization of $98.78 billion, a price-to-earnings ratio of 89.05, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.
American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.83. The firm 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 last year, the company earned $2.29 EPS. As a group, equities analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.
American Tower Increases Dividend
The company 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 dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.22%. This is an increase from American Tower's previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. American Tower's dividend payout ratio is presently 141.37%.
Insider Buying and Selling at American Tower
In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares of the company's stock, 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 legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently issued reports on AMT shares. Morgan Stanley assumed coverage on American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price objective for the company. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a report on Monday, January 27th. JMP Securities initiated coverage on American Tower in a report on Monday, January 27th. They set an "outperform" rating and a $225.00 target price on the stock. The Goldman Sachs Group decreased their price target on American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. Finally, Mizuho dropped their target price on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $232.07.
Read Our Latest Stock Report on American Tower
American Tower Profile
(
Free Report)
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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