Generali Investments CEE investicni spolecnost a.s. Acquires Shares of 9,200 American Tower Co. (NYSE:AMT)

Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of American Tower Co. (NYSE:AMT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,200 shares of the real estate investment trust's stock, valued at approximately $1,687,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Banco Santander S.A. lifted its position in American Tower by 7.2% during the 4th quarter. Banco Santander S.A. now owns 57,480 shares of the real estate investment trust's stock worth $10,542,000 after acquiring an additional 3,842 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of American Tower by 38.8% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 965 shares of the real estate investment trust's stock worth $195,000 after purchasing an additional 270 shares during the period. RKL Wealth Management LLC grew its position in American Tower by 6.6% in the 4th quarter. RKL Wealth Management LLC now owns 6,447 shares of the real estate investment trust's stock valued at $1,182,000 after buying an additional 399 shares during the last quarter. Oak Hill Wealth Advisors LLC increased its stake in American Tower by 194.9% in the 4th quarter. Oak Hill Wealth Advisors LLC now owns 1,328 shares of the real estate investment trust's stock valued at $244,000 after buying an additional 2,727 shares during the period. Finally, Pacific Heights Asset Management LLC increased its stake in American Tower by 75.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 70,000 shares of the real estate investment trust's stock valued at $12,839,000 after buying an additional 30,000 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Mizuho lowered their target price on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Citizens Jmp raised American Tower to a "strong-buy" rating in a report on Monday, January 27th. JMP Securities assumed coverage on American Tower in a research report on Monday, January 27th. They set an "outperform" rating and a $225.00 target price on the stock. Barclays reduced their price target on American Tower from $215.00 to $214.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group dropped their price objective on American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $225.21.

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Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business's 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 approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company's stock.

American Tower Price Performance

Shares of NYSE AMT opened at $212.49 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $99.29 billion, a price-to-earnings ratio of 89.66, a PEG ratio of 1.29 and a beta of 0.85. The company's 50-day moving average price is $189.60 and its 200 day moving average price is $206.30. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

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 EPS for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the business earned $2.29 earnings per share. The company's quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The business also recently declared 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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from American Tower's previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. American Tower's payout ratio is 134.72%.

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.

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