Colony Group LLC boosted its position in American Tower Corp (NYSE:AMT) by 18.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,062 shares of the real estate investment trust’s stock after buying an additional 2,952 shares during the period. Colony Group LLC’s holdings in American Tower were worth $4,381,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AMT. AXA raised its position in shares of American Tower by 2.5% during the fourth quarter. AXA now owns 336,247 shares of the real estate investment trust’s stock worth $77,276,000 after purchasing an additional 8,357 shares during the period. Janus Henderson Group PLC increased its stake in American Tower by 10.6% during the 4th quarter. Janus Henderson Group PLC now owns 4,533,496 shares of the real estate investment trust’s stock valued at $1,041,818,000 after purchasing an additional 435,781 shares in the last quarter. Covington Capital Management increased its stake in American Tower by 21.9% during the 4th quarter. Covington Capital Management now owns 6,082 shares of the real estate investment trust’s stock valued at $1,398,000 after purchasing an additional 1,091 shares in the last quarter. Noked Israel Ltd bought a new stake in American Tower during the 4th quarter valued at $414,000. Finally, Alberta Investment Management Corp raised its holdings in American Tower by 111.9% during the fourth quarter. Alberta Investment Management Corp now owns 308,900 shares of the real estate investment trust’s stock worth $70,991,000 after buying an additional 163,100 shares during the last quarter. 92.24% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently commented on AMT. Raymond James raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $211.00 target price for the company in a research report on Thursday. Edward Jones raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Tuesday. Credit Suisse Group reiterated a “hold” rating and set a $265.00 price target on shares of American Tower in a research note on Wednesday, February 26th. Citigroup raised American Tower from a “neutral” rating to a “buy” rating and set a $280.00 price objective for the company in a report on Thursday, March 5th. Finally, New Street Research raised American Tower from a “neutral” rating to a “buy” rating in a research note on Thursday, March 12th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $237.31.

Shares of AMT stock opened at $199.26 on Thursday. American Tower Corp has a 52-week low of $174.32 and a 52-week high of $258.62. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.52 and a current ratio of 0.52. The company has a 50-day simple moving average of $235.54 and a two-hundred day simple moving average of $225.48. The company has a market capitalization of $84.27 billion, a price-to-earnings ratio of 47.11, a PEG ratio of 1.28 and a beta of 0.41.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $1.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.86 by ($0.60). American Tower had a return on equity of 32.51% and a net margin of 24.90%. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the business earned $0.62 EPS. American Tower’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, sell-side analysts forecast that American Tower Corp will post 8.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 29th. Stockholders of record on Tuesday, April 14th will be issued a $1.08 dividend. The ex-dividend date is Monday, April 13th. This is a positive change from American Tower’s previous quarterly dividend of $1.01. This represents a $4.32 annualized dividend and a dividend yield of 2.17%. American Tower’s dividend payout ratio is currently 52.26%.

In related news, EVP Olivier Puech sold 1,186 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $222.71, for a total transaction of $264,134.06. Following the completion of the transaction, the executive vice president now owns 19,626 shares in the company, valued at $4,370,906.46. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director David E. Sharbutt sold 2,200 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $243.60, for a total transaction of $535,920.00. Following the sale, the director now owns 4,097 shares of the company’s stock, valued at approximately $998,029.20. The disclosure for this sale can be found here. Insiders have sold 10,144 shares of company stock valued at $2,332,308 over the last ninety days. 0.75% of the stock is currently owned by company 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 approximately 171,000 communications sites.

See Also: Dividend Aristocrat Index

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

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