Swiss National Bank Decreases Stake in American Tower Co. (NYSE:AMT)

Swiss National Bank reduced its holdings in American Tower Co. (NYSE:AMT - Free Report) by 4.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,319,500 shares of the real estate investment trust's stock after selling 66,500 shares during the period. Swiss National Bank owned approximately 0.28% of American Tower worth $242,009,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Assetmark Inc. boosted its stake in shares of American Tower by 227.0% during the third quarter. Assetmark Inc. now owns 2,364 shares of the real estate investment trust's stock valued at $550,000 after purchasing an additional 1,641 shares during the period. Sigma Planning Corp lifted its holdings in American Tower by 8.6% during the 3rd quarter. Sigma Planning Corp now owns 6,849 shares of the real estate investment trust's stock valued at $1,593,000 after buying an additional 542 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in American Tower by 15.4% in the 3rd quarter. Axxcess Wealth Management LLC now owns 4,722 shares of the real estate investment trust's stock valued at $1,098,000 after buying an additional 631 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of American Tower during the third quarter worth approximately $125,000. Finally, Prime Capital Investment Advisors LLC raised its stake in shares of American Tower by 12.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 4,169 shares of the real estate investment trust's stock valued at $970,000 after acquiring an additional 465 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

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Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares of the company's stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AMT has been the topic of several research analyst reports. Citigroup increased their price objective on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday. Hsbc Global Res raised American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. BMO Capital Markets upped their price objective on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Finally, Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $226.29.

American Tower Stock Performance

Shares of AMT stock traded up $0.60 during trading hours on Thursday, hitting $207.29. The company's stock had a trading volume of 2,691,067 shares, compared to its average volume of 2,242,227. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a 50 day moving average of $191.76 and a 200 day moving average of $206.06. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The stock has a market cap of $96.90 billion, a PE ratio of 87.46, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

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

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This is a boost from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.28%. American Tower's dividend payout ratio (DPR) is 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.