American Tower Co. (NYSE:AMT) Shares Bought by World Investment Advisors

World Investment Advisors lifted its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 42.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,773 shares of the real estate investment trust's stock after acquiring an additional 1,728 shares during the quarter. World Investment Advisors' holdings in American Tower were worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of American Tower during the third quarter valued at approximately $34,000. Graney & King LLC purchased a new stake in American Tower during the 4th quarter worth $32,000. Roxbury Financial LLC acquired a new position in American Tower in the 4th quarter worth $32,000. Crowley Wealth Management Inc. purchased a new position in American Tower in the 4th quarter valued at about $37,000. Finally, Hobbs Group Advisors LLC grew its stake 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 valued at $52,000 after acquiring an additional 75 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 value 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. This represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMT. JMP Securities started coverage on American Tower in a report on Monday, January 27th. They issued an "outperform" rating and a $225.00 price target for the company. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. The Goldman Sachs Group dropped 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 note on Thursday, December 12th. Citigroup increased their price objective on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Finally, BMO Capital Markets boosted their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $232.07.

American Tower Stock Performance

Shares of NYSE AMT traded down $2.26 during mid-day trading on Thursday, hitting $205.22. The company had a trading volume of 1,027,403 shares, compared to its average volume of 2,467,691. The stock has a market cap of $95.93 billion, a price-to-earnings ratio of 86.23, a PEG ratio of 1.29 and a beta of 0.87. The firm's 50 day simple moving average is $204.27 and its two-hundred day simple moving average is $203.20. 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 Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

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

American Tower Increases Dividend

The firm also recently disclosed 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 an increase from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.31%. American Tower's payout ratio 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.