American Tower Co. (NYSE:AMT) Shares Bought by HUB Investment Partners LLC

HUB Investment Partners LLC grew its holdings in American Tower Co. (NYSE:AMT - Free Report) by 7.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,513 shares of the real estate investment trust's stock after buying an additional 1,574 shares during the quarter. HUB Investment Partners LLC's holdings in American Tower were worth $4,129,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AMT. Nordea Investment Management AB raised its position in American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust's stock worth $260,743,000 after acquiring an additional 314,769 shares during the period. Point72 Hong Kong Ltd purchased a new position in American Tower in the 3rd quarter valued at $1,156,000. TigerOak Management L.L.C. purchased a new stake in shares of American Tower during the fourth quarter worth $1,102,000. Brookstone Capital Management raised its position in shares of American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock valued at $1,629,000 after buying an additional 1,995 shares during the last quarter. Finally, CCLA Investment Management lifted its stake in shares of 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 buying an additional 22,523 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms have commented on AMT. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Barclays boosted their price objective on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research note on Friday. Wells Fargo & Company upgraded American Tower from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $210.00 to $230.00 in a report on Monday, March 17th. Mizuho reduced their target price on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Finally, JMP Securities initiated coverage on shares of American Tower in a report on Monday, January 27th. They set an "outperform" rating and a $225.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $229.43.

American Tower Stock Down 1.6 %

Shares of AMT traded down $3.48 during mid-day trading on Monday, hitting $212.75. 2,879,869 shares of the company's stock were exchanged, compared to its average volume of 2,269,026. The stock's 50-day moving average is $196.71 and its 200-day moving average is $205.10. 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 company has a market cap of $99.45 billion, a price-to-earnings ratio of 89.77, a P/E/G ratio of 1.29 and a beta of 0.85. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The firm's quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal 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 $1.70 dividend. The ex-dividend date 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 3.20%. American Tower's dividend payout ratio (DPR) is currently 141.37%.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of the business'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 completion of the sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

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.