American Tower Co. (NYSE:AMT) Stock Holdings Lifted by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. raised its stake in American Tower Co. (NYSE:AMT - Free Report) by 16.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 17,062 shares of the real estate investment trust's stock after purchasing an additional 2,402 shares during the period. Edmond DE Rothschild Holding S.A.'s holdings in American Tower were worth $3,129,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in American Tower during the fourth quarter valued at approximately $1,164,851,000. Raymond James Financial Inc. bought a new stake in shares of American Tower in the 4th quarter valued at approximately $193,246,000. Daiwa Securities Group Inc. raised its position in shares of American Tower by 456.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust's stock valued at $206,269,000 after acquiring an additional 922,701 shares in the last quarter. State Street Corp lifted its stake in American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust's stock worth $4,924,091,000 after purchasing an additional 635,726 shares during the last quarter. Finally, Brookfield Corp ON boosted its holdings in American Tower by 88.3% in the third quarter. Brookfield Corp ON now owns 710,725 shares of the real estate investment trust's stock worth $165,286,000 after purchasing an additional 333,209 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Buying and Selling

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 stock was 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 owns 62,792 shares of the company's stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Barclays increased their target price on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a report on Monday, January 27th. Wells Fargo & Company upgraded American Tower from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $210.00 to $230.00 in a research note on Monday, March 17th. Citigroup increased their price target on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, Scotiabank reduced their price objective 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. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, American Tower currently has a consensus rating of "Buy" and a consensus target price of $232.07.

American Tower Price Performance

Shares of American Tower stock traded down $7.76 on Friday, hitting $220.43. The company had a trading volume of 9,876,456 shares, compared to its average volume of 2,435,271. American Tower Co. has a 52 week low of $170.46 and a 52 week 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 company has a market cap of $103.04 billion, a PE ratio of 93.01, a PEG ratio of 1.29 and a beta of 0.87. The business has a 50-day simple moving average of $202.22 and a 200-day simple moving average of $203.95.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the company posted $2.29 EPS. Research analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal 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 paid a $1.70 dividend. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.08%. This is a boost from American Tower's previous quarterly dividend of $1.62. American Tower's payout ratio is currently 141.37%.

American Tower Company 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.