American Tower Co. (NYSE:AMT) Stock Holdings Increased by FIL Ltd

FIL Ltd increased its stake in American Tower Co. (NYSE:AMT - Free Report) by 73.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,061 shares of the real estate investment trust's stock after acquiring an additional 27,983 shares during the period. FIL Ltd's holdings in American Tower were worth $12,116,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AMT. Glenview Trust co grew its stake in shares of American Tower by 0.8% during the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock valued at $1,294,000 after buying an additional 54 shares during the period. Rehmann Capital Advisory Group grew its position in American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock valued at $332,000 after acquiring an additional 58 shares during the period. Precedent Wealth Partners LLC increased its stake in American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock worth $235,000 after acquiring an additional 58 shares during the last quarter. Resonant Capital Advisors LLC raised its holdings in shares of American Tower by 5.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock worth $206,000 after purchasing an additional 61 shares during the period. Finally, Calamos Wealth Management LLC lifted its stake in shares of American Tower by 2.9% in the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock valued at $398,000 after purchasing an additional 61 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

American Tower Stock Up 2.1 %

Shares of American Tower stock traded up $4.44 during trading on Monday, reaching $217.66. The company had a trading volume of 2,080,588 shares, compared to its average volume of 2,459,280. The company has a market cap of $101.75 billion, a price-to-earnings ratio of 91.84, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm's fifty day moving average is $205.92 and its 200-day moving average is $202.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data 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. 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 analysts' expectations of $2.51 billion. During the same quarter in the prior year, the firm posted $2.29 earnings per share. American Tower's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a $1.70 dividend. 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 3.12%. The ex-dividend date is Friday, April 11th. American Tower's dividend payout ratio (DPR) is presently 141.37%.

Analysts Set New Price Targets

AMT has been the subject of a number of research analyst reports. BMO Capital Markets increased their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Scotiabank decreased their price target on shares of 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. Wells Fargo & Company raised American Tower from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $210.00 to $230.00 in a research report on Monday, March 17th. Finally, Mizuho reduced their price objective on American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $232.07.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company's stock.

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.