Tredje AP fonden Sells 3,075 Shares of American Tower Co. (NYSE:AMT)

Tredje AP fonden lowered its position in American Tower Co. (NYSE:AMT - Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,046 shares of the real estate investment trust's stock after selling 3,075 shares during the quarter. Tredje AP fonden's holdings in American Tower were worth $13,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in AMT. FMR LLC boosted its holdings in shares of American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust's stock valued at $2,474,934,000 after acquiring an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC boosted its holdings in shares of American Tower by 2,723.4% in the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust's stock valued at $279,890,000 after acquiring an additional 1,160,890 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of American Tower in the fourth quarter valued at approximately $193,246,000. Daiwa Securities Group Inc. boosted its holdings in American Tower by 456.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust's stock worth $206,269,000 after buying an additional 922,701 shares in the last quarter. Finally, State Street Corp boosted its holdings in American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust's stock worth $4,924,091,000 after buying an additional 635,726 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

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Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This 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 link. Insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of research reports. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Wells Fargo & Company reduced their target price on shares of American Tower from $215.00 to $195.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Morgan Stanley reduced their price target on shares of American Tower from $219.00 to $213.00 and set an "equal weight" rating for the company in a research report on Monday, February 24th. Mizuho reduced their price target on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group reduced their price target on shares of American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, American Tower has a consensus rating of "Moderate Buy" and an average price target of $226.29.

American Tower Stock Performance

NYSE:AMT traded up $3.25 during midday trading on Friday, reaching $211.02. The stock had a trading volume of 3,788,938 shares, compared to its average volume of 2,243,301. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The firm's fifty day simple moving average is $192.33 and its 200-day simple moving average is $205.82. 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 stock has a market capitalization of $98.64 billion, a P/E ratio of 89.04, a PEG ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the business posted $2.29 EPS. American Tower's revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. This is an increase from American Tower's previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.22%. American Tower's payout ratio is presently 141.37%.

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.