1,176 Shares in American Tower Co. (NYSE:AMT) Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd acquired a new position in shares of American Tower Co. (NYSE:AMT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,176 shares of the real estate investment trust’s stock, valued at approximately $254,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in American Tower by 0.3% in the third quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock valued at $10,020,034,000 after purchasing an additional 196,942 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of American Tower by 5.6% during the 3rd quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock valued at $2,135,227,000 after buying an additional 691,934 shares during the last quarter. Morgan Stanley grew its stake in shares of American Tower by 3.7% during the 3rd quarter. Morgan Stanley now owns 7,269,957 shares of the real estate investment trust’s stock worth $1,195,545,000 after acquiring an additional 258,030 shares during the period. FMR LLC raised its stake in American Tower by 2.1% in the 3rd quarter. FMR LLC now owns 6,628,436 shares of the real estate investment trust’s stock valued at $1,090,046,000 after acquiring an additional 138,303 shares during the period. Finally, Invesco Ltd. lifted its holdings in American Tower by 1.0% during the third quarter. Invesco Ltd. now owns 5,711,667 shares of the real estate investment trust’s stock valued at $939,284,000 after purchasing an additional 56,598 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.8 %

Shares of NYSE AMT opened at $172.00 on Thursday. The business has a 50-day moving average of $190.93 and a 200-day moving average of $194.05. The firm has a market capitalization of $80.21 billion, a price-to-earnings ratio of 54.51, a PEG ratio of 1.38 and a beta of 0.67. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10.

American Tower (NYSE:AMT) last issued its quarterly earnings results 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). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the company earned $2.34 EPS. American Tower’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts expect that American Tower Co. will post 9.94 earnings per share for the current fiscal year.

American Tower Cuts Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Morgan Stanley boosted their target price on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. BMO Capital Markets cut their price target on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Mizuho began coverage on American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective on the stock. Finally, StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus price target of $217.36.

Insider Activity

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

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.