Aster Capital Management DIFC Ltd Has $119,000 Stock Position in American Tower Co. (NYSE:AMT)

Aster Capital Management DIFC Ltd reduced its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 86.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 647 shares of the real estate investment trust's stock after selling 4,097 shares during the period. Aster Capital Management DIFC Ltd's holdings in American Tower were worth $119,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. MML Investors Services LLC increased its position in shares of American Tower by 9.7% during the 3rd quarter. MML Investors Services LLC now owns 42,247 shares of the real estate investment trust's stock worth $9,825,000 after purchasing an additional 3,739 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in American Tower during the 3rd quarter valued at $2,545,000. Nomura Asset Management Co. Ltd. raised its position in American Tower by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 141,328 shares of the real estate investment trust's stock valued at $32,867,000 after purchasing an additional 5,631 shares during the last quarter. Brophy Wealth Management LLC acquired a new position in American Tower in the third quarter worth $633,000. Finally, Prestige Wealth Management Group LLC grew its holdings in shares of American Tower by 6,257.4% during the third quarter. Prestige Wealth Management Group LLC now owns 5,976 shares of the real estate investment trust's stock worth $1,390,000 after purchasing an additional 5,882 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

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Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 62,792 shares of the company's stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Scotiabank decreased their price objective on shares of American Tower from $236.00 to $220.00 and set a "sector outperform" rating on the stock in a report on Thursday, January 23rd. BMO Capital Markets raised their price target 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. Citigroup upped their price objective on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, March 10th. JMP Securities initiated coverage on American Tower in a research report on Monday, January 27th. They set an "outperform" rating and a $225.00 target price for the company. Finally, Wells Fargo & Company upgraded American Tower from an "equal weight" rating to an "overweight" rating and raised their price target 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 assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $232.07.

American Tower Stock Up 1.1 %

AMT traded up $2.38 during trading on Monday, reaching $215.60. The company had a trading volume of 391,961 shares, compared to its average volume of 2,452,793. The business's fifty day moving average price is $205.31 and its 200 day moving average price is $202.65. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a market cap of $100.78 billion, a P/E ratio of 90.97, a PEG ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $2.29 EPS. Equities analysts anticipate that American Tower Co. will post 10.14 EPS for the current 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 issued a dividend of $1.70 per share. This is a boost from American Tower's previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.15%. American Tower's dividend payout ratio is presently 141.37%.

American Tower Profile

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.