American Tower Co. (NYSE:AMT) Shares Bought by Prudential PLC

Prudential PLC raised its holdings in American Tower Co. (NYSE:AMT - Free Report) by 16.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 118,470 shares of the real estate investment trust's stock after acquiring an additional 16,984 shares during the quarter. Prudential PLC's holdings in American Tower were worth $21,729,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMT. Glenview Trust co increased its stake in shares of American Tower by 0.8% during the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock valued at $1,294,000 after buying an additional 54 shares during the period. Rehmann Capital Advisory Group increased its position in American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock valued at $332,000 after purchasing an additional 58 shares during the period. Precedent Wealth Partners LLC raised its holdings in shares of American Tower by 4.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock valued at $235,000 after purchasing an additional 58 shares in the last quarter. Resonant Capital Advisors LLC lifted its position in shares of American Tower by 5.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock worth $206,000 after purchasing an additional 61 shares during the period. 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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Analyst Upgrades and Downgrades

AMT has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded American Tower from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $210.00 to $230.00 in a research note on Monday, March 17th. Citigroup lifted their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Morgan Stanley assumed coverage on shares of American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target on the stock. 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 report on Wednesday, February 26th. Finally, The Goldman Sachs Group reduced their target price 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. Two research 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 stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $232.07.

American Tower Price Performance

NYSE AMT traded down $0.45 during mid-day trading on Wednesday, hitting $204.21. The stock had a trading volume of 1,587,007 shares, compared to its average volume of 2,455,177. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm's 50 day moving average is $203.37 and its 200 day moving average is $203.37. The stock has a market capitalization of $95.46 billion, a price-to-earnings ratio of 86.10, a PEG ratio of 1.29 and a beta of 0.87.

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

American Tower Increases Dividend

The business also recently announced 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 of this dividend is Friday, April 11th. This is an increase from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.33%. American Tower's dividend payout ratio (DPR) is 141.37%.

Insider Transactions at American Tower

In other 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 transaction of $3,000,283.70. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company's stock.

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.