American Tower Co. (NYSE:AMT) Stock Position Raised by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of American Tower Co. (NYSE:AMT) by 75.2% in the fourth quarter, Holdings Channel reports. The firm owned 1,023 shares of the real estate investment trust’s stock after buying an additional 439 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in American Tower were worth $222,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Oakworth Capital Inc. raised its stake in shares of American Tower by 157.9% during the 4th quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 120 shares in the last quarter. Archer Investment Corp raised its stake in shares of American Tower by 12.6% in the 4th quarter. Archer Investment Corp now owns 2,234 shares of the real estate investment trust’s stock valued at $482,000 after acquiring an additional 250 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of American Tower by 9,885.9% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 131,315 shares of the real estate investment trust’s stock valued at $28,569,000 after acquiring an additional 130,000 shares in the last quarter. Slow Capital Inc. raised its stake in shares of American Tower by 1.7% in the 4th quarter. Slow Capital Inc. now owns 13,145 shares of the real estate investment trust’s stock valued at $2,846,000 after acquiring an additional 214 shares in the last quarter. Finally, Scissortail Wealth Management LLC bought a new position in shares of American Tower in the 4th quarter valued at approximately $576,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Down 0.1 %

NYSE AMT traded down $0.11 on Thursday, reaching $171.91. The company had a trading volume of 167,057 shares, compared to its average volume of 2,390,997. The stock’s 50 day moving average is $192.83 and its 200-day moving average is $193.58. The stock has a market cap of $80.17 billion, a price-to-earnings ratio of 54.09, a PEG ratio of 1.42 and a beta of 0.67. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.34 EPS. Equities analysts predict that American Tower Co. will post 10.06 earnings per share for the current year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.77%. American Tower’s dividend payout ratio is presently 203.77%.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of recent analyst reports. Mizuho started coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. BMO Capital Markets decreased their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Finally, Morgan Stanley lifted their price objective on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $217.36.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

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.