Northwest & Ethical Investments L.P. Has $7.68 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Northwest & Ethical Investments L.P. lessened its stake in American Tower Co. (NYSE:AMT - Free Report) by 27.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,849 shares of the real estate investment trust's stock after selling 15,954 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in American Tower were worth $7,676,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in American Tower by 28.5% in the 4th 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 buying an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of American Tower during the 3rd quarter worth approximately $1,156,000. TigerOak Management L.L.C. acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $1,102,000. Brookstone Capital Management lifted its position in shares of American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock worth $1,629,000 after purchasing an additional 1,995 shares in the last quarter. Finally, CCLA Investment Management boosted its holdings in American Tower by 5.5% during the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust's stock worth $79,344,000 after purchasing an additional 22,523 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

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Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business's stock in a transaction dated 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 sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company's stock.

American Tower Stock Performance

Shares of 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 firm has a market cap of $97.90 billion, a price-to-earnings ratio of 88.37, a PEG ratio of 1.29 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The business has a fifty day moving average of $196.71 and a 200-day moving average of $205.10. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results 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 net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.51 billion. During the same period in the prior year, the firm earned $2.29 EPS. The business's revenue was up 3.7% on a year-over-year basis. Equities 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. Investors of record on Friday, April 11th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This is an increase from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.25%. American Tower's payout ratio is 141.37%.

Analysts Set New Price Targets

AMT has been the topic of several recent research reports. Barclays lifted their price target on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday. Scotiabank lowered their target price on American Tower from $236.00 to $220.00 and set a "sector outperform" rating on the stock in a research report on Thursday, January 23rd. The Goldman Sachs Group reduced their price target on American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Finally, BMO Capital Markets increased their price objective on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, American Tower presently has an average rating of "Buy" and an average price target 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.