Savvy Advisors Inc. Acquires 2,497 Shares of American Tower Co. (NYSE:AMT)

Savvy Advisors Inc. increased its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 55.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,960 shares of the real estate investment trust's stock after buying an additional 2,497 shares during the period. Savvy Advisors Inc.'s holdings in American Tower were worth $1,277,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in American Tower by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock worth $2,074,956,000 after acquiring an additional 129,192 shares in the last quarter. FMR LLC raised its holdings in shares of American Tower by 5.0% during the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock valued at $2,050,390,000 after purchasing an additional 537,136 shares during the period. Norges Bank bought a new position in shares of American Tower during the 4th quarter worth about $1,164,851,000. Invesco Ltd. grew its stake in shares of American Tower by 8.3% in the 4th quarter. Invesco Ltd. now owns 5,941,586 shares of the real estate investment trust's stock valued at $1,089,746,000 after buying an additional 455,225 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in American Tower by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,316,312 shares of the real estate investment trust's stock worth $975,065,000 after buying an additional 107,345 shares during the period. 92.69% of the stock is owned by institutional investors.

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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 on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of American Tower from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $210.00 to $230.00 in a report on Monday, March 17th. BMO Capital Markets raised their target price on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. JMP Securities began 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. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Finally, Scotiabank lowered their target price on shares of American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $232.07.

American Tower Stock Performance

Shares of AMT stock traded up $0.07 during trading hours on Tuesday, reaching $217.86. 3,641,929 shares of the company traded hands, compared to its average volume of 2,464,426. The firm has a 50-day moving average price of $206.48 and a 200 day moving average price of $202.67. The company has a market cap of $101.84 billion, a P/E ratio of 91.92, a P/E/G ratio of 1.29 and a beta of 0.87. American Tower Co. has a 12-month low of $170.46 and a 12-month 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.

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

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.12%. This is a positive change from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio (DPR) is currently 141.37%.

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.