Dynamic Technology Lab Private Ltd Has $459,000 Stock Position in American Tower Co. (NYSE:AMT)

Dynamic Technology Lab Private Ltd cut its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 47.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,505 shares of the real estate investment trust's stock after selling 2,295 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in American Tower were worth $459,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Aviva PLC raised its stake in American Tower by 13.4% during the 4th quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock valued at $71,252,000 after purchasing an additional 46,009 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in American Tower in the 4th quarter valued at approximately $13,938,000. Smith Moore & CO. lifted its position in American Tower by 5.3% in the 4th quarter. Smith Moore & CO. now owns 4,760 shares of the real estate investment trust's stock worth $873,000 after buying an additional 239 shares in the last quarter. Prudential PLC lifted its position in American Tower by 16.7% in the 4th quarter. Prudential PLC now owns 118,470 shares of the real estate investment trust's stock worth $21,729,000 after buying an additional 16,984 shares in the last quarter. Finally, Magellan Asset Management Ltd increased its stake in shares of American Tower by 6.9% in the fourth quarter. Magellan Asset Management Ltd now owns 993,577 shares of the real estate investment trust's stock worth $182,232,000 after acquiring an additional 64,157 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

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Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company's stock in a transaction 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 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 at this hyperlink. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMT has been the topic of several recent research reports. BMO Capital Markets raised their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Morgan Stanley started coverage on shares of American Tower in a research report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price on the stock. Scotiabank cut their price target on American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a report on Thursday, January 23rd. Mizuho decreased their price target 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, Wells Fargo & Company raised American Tower from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $210.00 to $230.00 in a report on Monday, March 17th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $232.07.

American Tower Trading Up 0.9 %

American Tower stock traded up $1.82 during trading hours on Monday, reaching $215.04. 280,193 shares of the company's stock traded hands, compared to its average volume of 2,452,347. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm's 50 day moving average is $205.31 and its 200-day moving average is $202.65. 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 market capitalization of $100.52 billion, a price-to-earnings ratio of 90.73, a PEG 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 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 firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the business earned $2.29 EPS. The business's quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be issued a $1.70 dividend. The ex-dividend date 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 3.16%. American Tower's dividend payout ratio (DPR) is 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.