American Tower Corp (AMT) Stake Increased by National Pension Service

National Pension Service raised its holdings in American Tower Corp (NYSE:AMT) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 444,547 shares of the real estate investment trust’s stock after purchasing an additional 22,083 shares during the period. National Pension Service owned about 0.10% of American Tower worth $78,147,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Quantamental Technologies LLC acquired a new stake in American Tower in the fourth quarter valued at approximately $25,000. Lavaca Capital LLC purchased a new position in shares of American Tower in the fourth quarter valued at approximately $27,000. WESPAC Advisors SoCal LLC purchased a new position in shares of American Tower in the fourth quarter valued at approximately $27,000. Acima Private Wealth LLC purchased a new position in shares of American Tower in the fourth quarter valued at approximately $27,000. Finally, Citizens Financial Group Inc RI lifted its position in shares of American Tower by 62.0% in the fourth quarter. Citizens Financial Group Inc RI now owns 196 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 75 shares in the last quarter. 94.75% of the stock is currently owned by institutional investors.

In other news, EVP Olivier Puech sold 1,169 shares of American Tower stock in a transaction on Friday, March 15th. The stock was sold at an average price of $188.18, for a total value of $219,982.42. Following the completion of the sale, the executive vice president now directly owns 19,147 shares of the company’s stock, valued at $3,603,082.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas A. Bartlett sold 51,203 shares of American Tower stock in a transaction on Friday, January 18th. The shares were sold at an average price of $165.00, for a total value of $8,448,495.00. Following the completion of the sale, the chief financial officer now directly owns 165,433 shares of the company’s stock, valued at $27,296,445. The disclosure for this sale can be found here. Insiders sold 119,753 shares of company stock valued at $21,218,220 over the last ninety days. Insiders own 0.87% of the company’s stock.

Several equities analysts have recently weighed in on the company. Wells Fargo & Co downgraded American Tower from an “outperform” rating to a “market perform” rating and raised their target price for the company from $190.00 to $196.00 in a research report on Monday. They noted that the move was a valuation call. Bank of America raised their target price on American Tower from $172.00 to $208.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Edward Jones downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Morgan Stanley lifted their price objective on American Tower from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Monday, March 11th. Finally, Royal Bank of Canada lifted their price objective on American Tower from $173.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. American Tower currently has a consensus rating of “Hold” and an average target price of $177.25.

NYSE:AMT traded down $1.87 on Monday, reaching $196.09. The company’s stock had a trading volume of 1,706,872 shares, compared to its average volume of 1,875,272. American Tower Corp has a 12-month low of $133.53 and a 12-month high of $198.19. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 3.12. The company has a market capitalization of $86.75 billion, a P/E ratio of 24.54, a P/E/G ratio of 1.66 and a beta of 0.68.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Wednesday, February 27th. The real estate investment trust reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.25 by ($1.63). American Tower had a net margin of 16.62% and a return on equity of 19.86%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. Sell-side analysts anticipate that American Tower Corp will post 7.53 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Thursday, April 11th will be paid a $0.90 dividend. The ex-dividend date is Wednesday, April 10th. This is a boost from American Tower’s previous quarterly dividend of $0.84. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.84%. American Tower’s payout ratio is presently 45.06%.

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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 170,000 communications sites.

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

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