Mill Capital Management LLC Acquires 1,440 Shares of American Tower Co. (NYSE:AMT)

Mill Capital Management LLC raised its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,683 shares of the real estate investment trust's stock after acquiring an additional 1,440 shares during the period. American Tower makes up approximately 1.7% of Mill Capital Management LLC's investment portfolio, making the stock its 18th largest position. Mill Capital Management LLC's holdings in American Tower were worth $22,134,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Glenview Trust co raised its position in shares of American Tower by 0.8% during the fourth 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 during the period. Rehmann Capital Advisory Group increased its stake in American Tower by 4.2% during 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 purchasing an additional 58 shares in the last quarter. Precedent Wealth Partners LLC raised its holdings 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 buying an additional 58 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock valued at $206,000 after buying an additional 61 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its holdings in shares of American Tower by 2.9% during the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock valued at $398,000 after buying an additional 61 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

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Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm's stock in a transaction that occurred on 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 directly owns 62,792 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate insiders.

American Tower Stock Performance

Shares of NYSE AMT traded up $1.48 during trading on Friday, reaching $215.52. 1,907,465 shares of the stock traded hands, compared to its average volume of 2,385,502. The company has a 50-day moving average of $198.89 and a 200-day moving average of $204.85. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $100.74 billion, a P/E ratio of 90.94, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

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

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a dividend of $1.70 per share. This is a boost from American Tower's previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.16%. American Tower's dividend payout ratio is 141.37%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AMT shares. Mizuho dropped their price target on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a report on Thursday, February 27th. JMP Securities assumed coverage on American Tower in a report on Monday, January 27th. They set an "outperform" rating and a $225.00 price target for the company. Citigroup raised their price objective on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Finally, The Goldman Sachs Group reduced their target price on shares of American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, American Tower has an average rating of "Buy" and a consensus target price of $229.43.

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.