Sei Investments Co. Has $182.49 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Sei Investments Co. raised its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 995,008 shares of the real estate investment trust's stock after purchasing an additional 62,359 shares during the period. Sei Investments Co. owned 0.21% of American Tower worth $182,494,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Roxbury Financial LLC acquired a new stake in shares of American Tower in the fourth quarter worth about $32,000. Legacy Investment Solutions LLC bought a new stake in American Tower during the third quarter worth approximately $34,000. Bank of Jackson Hole Trust acquired a new position in American Tower during the fourth quarter valued at approximately $46,000. Versant Capital Management Inc raised its position in shares of American Tower by 113.9% in the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 139 shares during the period. Finally, Kestra Investment Management LLC acquired a new stake in shares of American Tower in the fourth quarter worth $48,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMT. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. The Goldman Sachs Group dropped their price objective on American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a research note on Thursday, December 12th. Wells Fargo & Company upgraded American Tower from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $210.00 to $230.00 in a research note on Monday, March 17th. Citizens Jmp raised American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Mizuho reduced their price objective on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $229.43.

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American Tower Price Performance

Shares of American Tower stock traded up $0.41 during trading on Wednesday, hitting $209.91. 1,607,372 shares of the company's stock traded hands, compared to its average volume of 2,268,842. American Tower Co. has a twelve month low of $170.46 and a twelve 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. The company has a market cap of $98.12 billion, a PE ratio of 88.57, a PEG ratio of 1.29 and a beta of 0.85. The firm's fifty day moving average price is $197.32 and its 200 day moving average price is $204.91.

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

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. This is a positive change from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.24%. The ex-dividend date is Friday, April 11th. American Tower's dividend payout ratio is currently 141.37%.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 transaction, the chief financial officer now directly owns 62,792 shares of the company's stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

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.