Handelsbanken Fonder AB Purchases 9,156 Shares of American Tower Co. (NYSE:AMT)

Handelsbanken Fonder AB raised its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,869 shares of the real estate investment trust's stock after purchasing an additional 9,156 shares during the period. Handelsbanken Fonder AB's holdings in American Tower were worth $38,492,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC boosted its holdings in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of American Tower in the third quarter worth about $31,000. Roxbury Financial LLC bought a new stake in shares of American Tower during the 4th quarter worth about $32,000. Legacy Investment Solutions LLC acquired a new stake in American Tower in the 3rd quarter worth approximately $34,000. Finally, Activest Wealth Management boosted its position in American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 125 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction 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 sale, the chief financial officer now owns 62,792 shares of the company's stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

American Tower Stock Performance

AMT stock traded down $1.06 during mid-day trading on Friday, hitting $191.32. 3,304,311 shares of the company were exchanged, compared to its average volume of 2,179,106. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock has a market capitalization of $89.40 billion, a PE ratio of 80.73, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The business has a 50 day simple moving average of $185.78 and a 200-day simple moving average of $207.88. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.39%. American Tower's payout ratio is currently 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of analyst reports. JMP Securities began coverage on shares of American Tower in a research note on Monday, January 27th. They issued an "outperform" rating and a $225.00 price objective for the company. StockNews.com cut American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. BMO Capital Markets reduced their price objective on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Citigroup decreased their price target on American Tower from $255.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Finally, Wells Fargo & Company decreased their price objective on shares of American Tower from $215.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $225.79.

About American Tower

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.