ExodusPoint Capital Management LP Has $44.14 Million Stake in American Tower Co. (NYSE:AMT)

ExodusPoint Capital Management LP boosted its position in American Tower Co. (NYSE:AMT - Free Report) by 27.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,634 shares of the real estate investment trust's stock after buying an additional 52,155 shares during the quarter. ExodusPoint Capital Management LP owned 0.05% of American Tower worth $44,135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust's stock valued at $4,924,091,000 after acquiring an additional 635,726 shares in the last quarter. Geode Capital Management LLC increased its position in shares of American Tower by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock worth $2,074,956,000 after purchasing an additional 129,192 shares during the last quarter. Norges Bank bought a new position in shares of American Tower during the fourth quarter worth about $1,164,851,000. Charles Schwab Investment Management Inc. lifted its position in shares of American Tower by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,316,312 shares of the real estate investment trust's stock worth $975,065,000 after purchasing an additional 107,345 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in American Tower by 16.8% during the fourth quarter. Franklin Resources Inc. now owns 5,164,905 shares of the real estate investment trust's stock valued at $947,295,000 after buying an additional 742,632 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several brokerages have recently commented on AMT. Scotiabank decreased their target price on American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a research report on Thursday, January 23rd. The Goldman Sachs Group decreased their price objective on shares of American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a report on Thursday, December 12th. Citigroup increased their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. 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. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, American Tower presently has an average rating of "Buy" and an average target price of $232.07.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of the business's stock in a transaction 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 sale, the chief financial officer now directly owns 62,792 shares of the company's stock, valued at $11,371,631.20. The trade was 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. 0.18% of the stock is currently owned by insiders.

American Tower Price Performance

NYSE AMT traded down $7.76 on Friday, reaching $220.43. 9,876,456 shares of the stock traded hands, compared to its average volume of 2,435,271. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm's fifty day simple moving average is $202.22 and its 200 day simple moving average is $203.95. The company has a market cap of $103.04 billion, a price-to-earnings ratio of 93.01, a P/E/G ratio of 1.29 and a beta of 0.87.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the company earned $2.29 earnings per share. American Tower's revenue was up 3.7% compared to the same quarter last year. As a group, research analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.08%. American Tower's dividend payout ratio is currently 141.37%.

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.