American Tower Co. (NYSE:AMT) Stock Position Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in American Tower Co. (NYSE:AMT - Free Report) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,053 shares of the real estate investment trust's stock after purchasing an additional 6,453 shares during the quarter. Victory Capital Management Inc.'s holdings in American Tower were worth $31,740,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of American Tower during the 3rd quarter valued at about $34,000. Activest Wealth Management grew its position in American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 125 shares in the last quarter. Roxbury Financial LLC purchased a new stake in shares of American Tower during the fourth quarter valued at approximately $32,000. Hobbs Group Advisors LLC lifted its position in shares of American Tower by 51.0% during the third quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 75 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of American Tower by 49.3% during the third quarter. Larson Financial Group LLC now owns 227 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Remove Ads

American Tower Stock Performance

Shares of American Tower stock traded up $1.13 during trading hours on Monday, reaching $213.42. The company's stock had a trading volume of 4,156,506 shares, compared to its average volume of 2,234,941. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company's 50 day simple moving average is $189.60 and its 200 day simple moving average is $206.21. The stock has a market cap of $99.77 billion, a P/E ratio of 90.05, 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 earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion during 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%. American Tower's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 earnings per share. As a group, analysts expect 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. Investors of record on Friday, April 11th will be paid a dividend of $1.70 per share. This is an increase from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Friday, April 11th. American Tower's dividend payout ratio is presently 141.37%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AMT shares. Citigroup lifted their price target on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday. Morgan Stanley dropped their target price on American Tower from $219.00 to $213.00 and set an "equal weight" rating on the stock in a research report on Monday, February 24th. Scotiabank cut their price target on American Tower from $236.00 to $220.00 and set a "sector outperform" rating on the stock in a research note on Thursday, January 23rd. The Goldman Sachs Group lowered their price objective on American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. Finally, JMP Securities initiated coverage on American Tower in a research report on Monday, January 27th. They issued an "outperform" rating and a $225.00 target price on the stock. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of "Moderate Buy" and an average price target of $226.29.

Insiders Place Their Bets

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

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.