Mirabaud Asset Management Ltd Has $1.47 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Mirabaud Asset Management Ltd lifted its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 20.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,052 shares of the real estate investment trust's stock after acquiring an additional 1,356 shares during the period. Mirabaud Asset Management Ltd's holdings in American Tower were worth $1,465,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Glenview Trust co raised its holdings in American Tower by 0.8% in 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 during the period. Rehmann Capital Advisory Group lifted its stake 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 worth $332,000 after purchasing an additional 58 shares in the last quarter. Precedent Wealth Partners LLC raised its holdings in shares of American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock worth $235,000 after acquiring an additional 58 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of American Tower by 5.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock worth $206,000 after buying an additional 61 shares during the last quarter. Finally, Calamos Wealth Management LLC raised its position in 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 purchasing an additional 61 shares during the period. Hedge funds and other 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 American Tower 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 transaction, the chief financial officer now owns 62,792 shares of the company's stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company's stock.

American Tower Trading Up 0.5 %

AMT traded up $1.08 during trading on Thursday, reaching $208.56. The company had a trading volume of 1,817,561 shares, compared to its average volume of 2,470,931. 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 12-month low of $170.46 and a 12-month high of $243.56. The company has a market cap of $97.49 billion, a price-to-earnings ratio of 87.59, a PEG ratio of 1.29 and a beta of 0.87. The firm's 50-day simple moving average is $204.27 and its 200 day simple moving average is $203.20.

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

American Tower Increases Dividend

The firm 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 dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.26%. This is an increase from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio (DPR) is currently 141.37%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. JMP Securities started coverage on American Tower in a research report on Monday, January 27th. They issued an "outperform" rating and a $225.00 price objective for the company. Scotiabank dropped their price objective on shares of American Tower from $236.00 to $220.00 and set a "sector outperform" rating on the stock in a report on Thursday, January 23rd. 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. Finally, Morgan Stanley began coverage on American Tower in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective on the stock. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, American Tower currently has a consensus rating of "Buy" and an average 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.