American Tower Co. (NYSE:AMT) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lessened its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,700 shares of the real estate investment trust's stock after selling 3,590 shares during the quarter. iA Global Asset Management Inc.'s holdings in American Tower were worth $4,714,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AMT. Nordea Investment Management AB raised its position in American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust's stock valued at $260,743,000 after purchasing an additional 314,769 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of American Tower in the 3rd quarter valued at $1,156,000. TigerOak Management L.L.C. acquired a new position in American Tower during the 4th quarter worth about $1,102,000. Brookstone Capital Management boosted its holdings in American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock valued at $1,629,000 after acquiring an additional 1,995 shares during the period. Finally, CCLA Investment Management grew its position in American Tower by 5.5% in the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust's stock valued at $79,344,000 after acquiring an additional 22,523 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research analysts have recently commented on the stock. Scotiabank lowered their price objective on shares of American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a research note on Thursday, January 23rd. 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 target for the company. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Wells Fargo & Company raised American Tower from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $210.00 to $230.00 in a research note on Monday, March 17th. Finally, BMO Capital Markets increased their price target on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $229.43.

Insider Transactions at American Tower

In other 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 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. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company's stock.

American Tower Stock Performance

NYSE AMT traded down $3.36 during trading hours on Tuesday, hitting $209.44. The company had a trading volume of 2,646,635 shares, compared to its average volume of 2,268,344. The company has a market cap of $97.90 billion, a PE ratio of 88.37, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. 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 Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The business has a 50 day moving average of $196.71 and a 200-day moving average of $205.10.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share 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 business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the company earned $2.29 earnings per share. The company's revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently announced 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 3.25%. This is a boost from American Tower's previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower's dividend payout ratio is presently 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.