Ilmarinen Mutual Pension Insurance Co Has $10.45 Million Position in American Tower Co. (NYSE:AMT)

Ilmarinen Mutual Pension Insurance Co lessened its position in American Tower Co. (NYSE:AMT - Free Report) by 20.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,949 shares of the real estate investment trust's stock after selling 14,700 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in American Tower were worth $10,445,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Glenview Trust co increased its holdings in 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 worth $1,294,000 after purchasing an additional 54 shares in the last quarter. Rehmann Capital Advisory Group raised its position in American Tower by 4.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock valued at $332,000 after buying an additional 58 shares during the last quarter. Precedent Wealth Partners LLC lifted its stake in American Tower by 4.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock valued at $235,000 after acquiring an additional 58 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock worth $206,000 after acquiring an additional 61 shares during the last quarter. Finally, Calamos Wealth Management LLC boosted its position in American Tower by 2.9% during the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock worth $398,000 after acquiring an additional 61 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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American Tower Price Performance

Shares of American Tower stock traded up $5.74 on Friday, reaching $212.36. 926,472 shares of the stock were exchanged, compared to its average volume of 2,465,084. The firm's 50 day moving average is $204.73 and its 200-day moving average is $203.01. 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 one year low of $170.46 and a one year high of $243.56. The firm has a market cap of $99.27 billion, a PE ratio of 89.54, a P/E/G ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.29 earnings per share. As a group, analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently declared 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. 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 dividend payout ratio is presently 141.37%.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 sale, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMT. The Goldman Sachs Group cut their price objective on shares of American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. Scotiabank decreased 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 report on Thursday, January 23rd. Citizens Jmp raised American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Finally, BMO Capital Markets upped their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $232.07.

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.