Xponance Inc. Boosts Position in American Tower Co. (NYSE:AMT)

Xponance Inc. boosted its position in American Tower Co. (NYSE:AMT - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 115,244 shares of the real estate investment trust's stock after acquiring an additional 2,575 shares during the period. Xponance Inc.'s holdings in American Tower were worth $21,137,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Glenview Trust co boosted its position in shares of American Tower by 0.8% in the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock worth $1,294,000 after purchasing an additional 54 shares during the period. Rehmann Capital Advisory Group boosted its position in shares of American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock worth $332,000 after purchasing an additional 58 shares during the period. Precedent Wealth Partners LLC boosted its position in shares of American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock worth $235,000 after purchasing an additional 58 shares during the period. Resonant Capital Advisors LLC boosted its position in shares of American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock worth $206,000 after purchasing an additional 61 shares during the period. Finally, Calamos Wealth Management LLC boosted its position in shares of American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock worth $398,000 after purchasing an additional 61 shares during the period. Institutional investors own 92.69% of the company's stock.

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Analyst Ratings Changes

AMT has been the subject of a number of recent analyst reports. Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Wells Fargo & Company upgraded shares of American Tower from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. BMO Capital Markets upped 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. Finally, Barclays upped their target price on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, American Tower currently has a consensus rating of "Buy" and a consensus target price of $229.43.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm'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 transaction, the chief financial officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company's stock.

American Tower Trading Up 1.0 %

Shares of AMT traded up $2.14 during midday trading on Friday, hitting $216.41. The stock had a trading volume of 6,326,073 shares, compared to its average volume of 2,267,826. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a market cap of $101.16 billion, a PE ratio of 91.31, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. 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's 50 day moving average is $195.99 and its 200 day moving average is $205.61.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $2.51 billion. During the same quarter in the prior year, the firm posted $2.29 earnings per share. The business's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.14%. This is an increase from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio is currently 141.37%.

American Tower Company 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.