AMF Tjanstepension AB Has $18.36 Million Position in American Tower Co. (NYSE:AMT)

AMF Tjanstepension AB decreased its position in American Tower Co. (NYSE:AMT - Free Report) by 5.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,853 shares of the real estate investment trust's stock after selling 4,905 shares during the quarter. AMF Tjanstepension AB's holdings in American Tower were worth $18,357,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Campbell & CO Investment Adviser LLC increased its holdings in shares of American Tower by 34.2% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 2,265 shares of the real estate investment trust's stock valued at $489,000 after acquiring an additional 577 shares during the last quarter. Capital Research Global Investors increased its holdings in American Tower by 14.9% during the 4th quarter. Capital Research Global Investors now owns 4,437,051 shares of the real estate investment trust's stock valued at $957,872,000 after purchasing an additional 574,203 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in American Tower by 208.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 69,714 shares of the real estate investment trust's stock valued at $15,050,000 after purchasing an additional 47,083 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in American Tower by 4.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 41,627 shares of the real estate investment trust's stock valued at $8,987,000 after purchasing an additional 1,659 shares in the last quarter. Finally, Gabelli Funds LLC increased its holdings in American Tower by 18.8% during the 4th quarter. Gabelli Funds LLC now owns 104,355 shares of the real estate investment trust's stock valued at $22,528,000 after purchasing an additional 16,505 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on AMT. JPMorgan Chase & Co. lifted their target price on American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, September 23rd. Royal Bank of Canada lifted their target price on American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price target on American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. The Goldman Sachs Group began coverage on American Tower in a research report on Monday, July 1st. They issued a "buy" rating and a $230.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on American Tower from $225.00 to $245.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $234.00.

American Tower Stock Down 1.1 %

Shares of NYSE:AMT traded down $2.45 during midday trading on Thursday, reaching $229.43. The company had a trading volume of 1,590,912 shares, compared to its average volume of 2,311,478. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The business's 50 day moving average price is $228.68 and its 200 day moving average price is $204.27. The stock has a market cap of $107.14 billion, a PE ratio of 51.91, a P/E/G ratio of 1.05 and a beta of 0.83. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.44 by ($0.52). The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. American Tower's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.46 EPS. Research analysts forecast that American Tower Co. will post 10.13 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Wednesday, October 9th. American Tower's payout ratio is presently 146.61%.

Insider Activity at American Tower

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares of the company's stock, valued at $14,223,890. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the sale, the executive vice president now directly owns 51,746 shares of the company's stock, valued at approximately $12,070,789.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares of the company's stock, valued at $14,223,890. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,723 shares of company stock worth $7,795,397. Company insiders own 0.18% of the company's stock.

About American Tower

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.