Candriam Luxembourg S.C.A. Purchases 1,857 Shares of American Tower Corp (AMT)

Candriam Luxembourg S.C.A. raised its position in American Tower Corp (NYSE:AMT) by 4.0% in the 4th quarter, HoldingsChannel reports. The fund owned 48,798 shares of the real estate investment trust’s stock after purchasing an additional 1,857 shares during the period. Candriam Luxembourg S.C.A.’s holdings in American Tower were worth $6,962,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vident Investment Advisory LLC raised its holdings in American Tower by 166.9% in the 3rd quarter. Vident Investment Advisory LLC now owns 4,019 shares of the real estate investment trust’s stock valued at $550,000 after acquiring an additional 2,513 shares in the last quarter. LVM Capital Management Ltd. MI raised its holdings in American Tower by 11.6% in the 4th quarter. LVM Capital Management Ltd. MI now owns 57,741 shares of the real estate investment trust’s stock valued at $8,238,000 after acquiring an additional 5,986 shares in the last quarter. BB&T Corp raised its holdings in American Tower by 3.1% in the 3rd quarter. BB&T Corp now owns 37,161 shares of the real estate investment trust’s stock valued at $5,079,000 after acquiring an additional 1,104 shares in the last quarter. Heritage Investors Management Corp raised its holdings in American Tower by 13.9% in the 3rd quarter. Heritage Investors Management Corp now owns 23,902 shares of the real estate investment trust’s stock valued at $3,267,000 after acquiring an additional 2,915 shares in the last quarter. Finally, Zions Bancorporation raised its holdings in American Tower by 4,708.4% in the 3rd quarter. Zions Bancorporation now owns 3,991 shares of the real estate investment trust’s stock valued at $546,000 after acquiring an additional 3,908 shares in the last quarter. 91.56% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have commented on the company. Jefferies Group upped their price target on American Tower from $144.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Argus upped their price target on American Tower to $170.00 and gave the company a “buy” rating in a report on Thursday, November 9th. KeyCorp reaffirmed an “overweight” rating and issued a $177.00 price target (up previously from $156.00) on shares of American Tower in a report on Monday, November 27th. Cowen reaffirmed a “buy” rating on shares of American Tower in a report on Tuesday, October 24th. Finally, Macquarie increased their target price on American Tower from $162.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $158.60.

In related news, Director Samme L. Thompson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $143.16, for a total transaction of $715,800.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman James D. Taiclet, Jr. sold 34,667 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $142.52, for a total value of $4,940,740.84. Following the sale, the chairman now owns 305,374 shares in the company, valued at $43,521,902.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,251 shares of company stock valued at $5,885,334. 0.86% of the stock is currently owned by insiders.

American Tower Corp (AMT) opened at $135.48 on Thursday. American Tower Corp has a twelve month low of $106.01 and a twelve month high of $155.28. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.61. The stock has a market capitalization of $58,457.36, a P/E ratio of 21.10, a PEG ratio of 1.29 and a beta of 0.77.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Thursday, December 28th were issued a $0.70 dividend. The ex-dividend date was Wednesday, December 27th. This is a boost from American Tower’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.07%. American Tower’s dividend payout ratio is presently 106.46%.

American Tower announced that its board has approved a share buyback program on Thursday, December 7th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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American Tower Company Profile

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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