Handelsbanken Fonder AB Has $46.68 Million Stock Position in American Tower Co. (NYSE:AMT)

Handelsbanken Fonder AB lifted its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 200,713 shares of the real estate investment trust's stock after acquiring an additional 3,418 shares during the quarter. Handelsbanken Fonder AB's holdings in American Tower were worth $46,678,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in AMT. Campbell & CO Investment Adviser LLC boosted its stake in 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 purchasing an additional 577 shares during the period. Epoch Investment Partners Inc. boosted its stake in American Tower by 17.1% during the 4th quarter. Epoch Investment Partners Inc. now owns 66,430 shares of the real estate investment trust's stock valued at $14,341,000 after purchasing an additional 9,702 shares during the period. Schroder Investment Management Group boosted its stake in American Tower by 3.6% during the 4th quarter. Schroder Investment Management Group now owns 176,209 shares of the real estate investment trust's stock valued at $38,040,000 after purchasing an additional 6,155 shares during the period. Waterloo Capital L.P. boosted its stake in American Tower by 8.3% during the 4th quarter. Waterloo Capital L.P. now owns 5,613 shares of the real estate investment trust's stock valued at $1,212,000 after purchasing an additional 431 shares during the period. Finally, Security National Bank acquired a new position in American Tower in the 4th quarter valued at approximately $41,000. Institutional investors own 92.69% of the company's stock.

Insider Transactions at American Tower

In other American Tower news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated 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 transaction, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the sale, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock worth $7,795,397 in the last three months. Insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. StockNews.com raised American Tower from a "hold" rating to a "buy" rating in a report on Wednesday, July 31st. BMO Capital Markets increased their target price on American Tower from $246.00 to $260.00 and gave the stock an "outperform" rating in a report on Friday, September 13th. TD Cowen increased their target price on American Tower from $226.00 to $239.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their target price on American Tower from $225.00 to $245.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group started coverage on American Tower in a report on Monday, July 1st. They issued a "buy" rating and a $230.00 target price for the company. Two 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $234.00.

American Tower Price Performance

AMT stock traded down $5.62 during midday trading on Friday, reaching $223.66. 1,942,688 shares of the company's stock traded hands, compared to its average volume of 2,231,376. The company has a market cap of $104.44 billion, a price-to-earnings ratio of 50.60, a PEG ratio of 1.06 and a beta of 0.83. 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 company has a 50-day simple moving average of $228.88 and a two-hundred day simple moving average of $204.58. 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 posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the business earned $2.46 earnings per share. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts anticipate that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a $1.62 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 2.90%. American Tower's dividend payout ratio is currently 146.61%.

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.