35,637 Shares in American Tower Co. (NYSE:AMT) Acquired by Avanza Fonder AB

Avanza Fonder AB purchased a new stake in shares of American Tower Co. (NYSE:AMT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 35,637 shares of the real estate investment trust's stock, valued at approximately $6,536,000.

Several other institutional investors have also modified their holdings of AMT. Bradley Foster & Sargent Inc. CT increased its stake in shares of American Tower by 3.8% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 6,853 shares of the real estate investment trust's stock worth $1,332,000 after purchasing an additional 251 shares in the last quarter. E Fund Management Co. Ltd. increased its stake in shares of American Tower by 140.6% during the second quarter. E Fund Management Co. Ltd. now owns 3,487 shares of the real estate investment trust's stock worth $678,000 after purchasing an additional 2,038 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in American Tower by 113.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 59,416 shares of the real estate investment trust's stock valued at $11,549,000 after acquiring an additional 31,616 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in American Tower by 11.0% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,456 shares of the real estate investment trust's stock valued at $1,449,000 after acquiring an additional 740 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in American Tower by 4.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 38,647 shares of the real estate investment trust's stock valued at $7,512,000 after acquiring an additional 1,757 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. StockNews.com cut shares of American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company cut shares of American Tower from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. BMO Capital Markets decreased their target price on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group decreased their target price on shares of American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, American Tower currently has an average rating of "Moderate Buy" and a consensus target price of $230.67.

Insider Buying and Selling at American Tower

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

American Tower Stock Performance

Shares of AMT stock traded up $0.44 during mid-day trading on Friday, hitting $190.51. The stock had a trading volume of 2,882,489 shares, compared to its average volume of 2,167,840. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm has a market cap of $89.02 billion, a PE ratio of 80.39, a PEG ratio of 1.16 and a beta of 0.84. 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 company's 50-day simple moving average is $192.86 and its 200-day simple moving average is $211.29.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the business earned $2.58 EPS. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. Sell-side analysts anticipate that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.40%. American Tower's dividend payout ratio (DPR) is currently 273.42%.

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.