American Tower Co. (NYSE:AMT) Stock Position Raised by Pinebridge Investments L.P.

Pinebridge Investments L.P. raised its position in shares of American Tower Co. (NYSE:AMTGet Rating) by 42.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,255 shares of the real estate investment trust’s stock after purchasing an additional 5,170 shares during the period. Pinebridge Investments L.P.’s holdings in American Tower were worth $5,047,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. raised its stake in shares of American Tower by 5.1% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 154,314 shares of the real estate investment trust’s stock worth $40,955,000 after purchasing an additional 7,446 shares in the last quarter. Oxbow Advisors LLC increased its holdings in shares of American Tower by 3.6% during the 3rd quarter. Oxbow Advisors LLC now owns 31,886 shares of the real estate investment trust’s stock valued at $8,463,000 after acquiring an additional 1,106 shares during the last quarter. IndexIQ Advisors LLC increased its holdings in shares of American Tower by 7.5% during the 3rd quarter. IndexIQ Advisors LLC now owns 7,870 shares of the real estate investment trust’s stock valued at $2,089,000 after acquiring an additional 551 shares during the last quarter. LPL Financial LLC increased its holdings in shares of American Tower by 13.0% during the 3rd quarter. LPL Financial LLC now owns 172,154 shares of the real estate investment trust’s stock valued at $45,692,000 after acquiring an additional 19,784 shares during the last quarter. Finally, Greenwich Wealth Management LLC acquired a new position in shares of American Tower during the 4th quarter valued at about $1,077,000. 91.00% of the stock is owned by institutional investors.

Shares of AMT stock opened at $232.66 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 4.12. The company has a market capitalization of $106.16 billion, a P/E ratio of 40.25, a P/E/G ratio of 2.26 and a beta of 0.49. American Tower Co. has a 12 month low of $220.00 and a 12 month high of $303.72. The stock has a 50 day moving average of $246.86 and a two-hundred day moving average of $255.49.

American Tower (NYSE:AMTGet Rating) last posted its earnings results on Wednesday, April 27th. The real estate investment trust reported $1.56 EPS for the quarter, missing the consensus estimate of $2.41 by ($0.85). The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.61 billion. American Tower had a return on equity of 30.44% and a net margin of 26.72%. American Tower’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 EPS. Sell-side analysts predict that American Tower Co. will post 9.68 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Wednesday, April 13th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Tuesday, April 12th. This is an increase from American Tower’s previous quarterly dividend of $1.39. American Tower’s dividend payout ratio (DPR) is 96.89%.

In related news, CFO Rodney M. Smith sold 25,389 shares of the firm’s stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $270.00, for a total transaction of $6,855,030.00. Following the completion of the transaction, the chief financial officer now owns 52,398 shares in the company, valued at approximately $14,147,460. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is owned by company insiders.

A number of brokerages have recently commented on AMT. Barclays lowered their price objective on American Tower from €295.00 ($310.53) to €284.00 ($298.95) in a report on Friday, March 18th. Morgan Stanley increased their price objective on American Tower from $274.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, April 7th. Wells Fargo & Company raised their target price on American Tower from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, March 11th. KeyCorp lowered their target price on American Tower from $311.00 to $286.00 and set an “overweight” rating on the stock in a report on Friday, February 25th. Finally, TheStreet raised American Tower from a “c+” rating to a “b” rating in a report on Wednesday, April 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $288.92.

American Tower Profile (Get Rating)

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

See Also

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

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