Livforsakringsbolaget Skandia Omsesidigt Grows Position in American Tower Co. (NYSE:AMT)

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of American Tower Co. (NYSE:AMT) by 75.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,023 shares of the real estate investment trust’s stock after purchasing an additional 439 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in American Tower were worth $222,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. McClarren Financial Advisors Inc. purchased a new stake in American Tower during the 3rd quarter worth approximately $27,000. Emerald Advisers LLC acquired a new stake in American Tower during the 3rd quarter valued at approximately $29,000. Thompson Investment Management Inc. acquired a new stake in American Tower during the 4th quarter valued at approximately $29,000. Pinnacle Holdings LLC acquired a new stake in American Tower during the 1st quarter valued at approximately $29,000. Finally, Eagle Bay Advisors LLC acquired a new stake in American Tower during the 2nd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on AMT shares. Barclays lifted their price objective on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. BMO Capital Markets decreased their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research note 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 research note on Monday. Mizuho assumed coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $217.36.

Insider Activity at American Tower

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the company’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 sale, the director now 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 is available at the SEC website. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the company’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 transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the 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 sale, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

American Tower Price Performance

Shares of American Tower stock traded down $0.11 during trading hours on Thursday, reaching $171.91. 167,057 shares of the company’s stock were exchanged, compared to its average volume of 2,390,997. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10. The company has a market capitalization of $80.17 billion, a P/E ratio of 54.09, a price-to-earnings-growth ratio of 1.42 and a beta of 0.67. The business has a fifty day moving average of $192.83 and a two-hundred day moving average of $193.58. 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 (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the company posted $2.34 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts predict that American Tower Co. will post 10.06 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. Investors 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 is Thursday, April 11th. American Tower’s dividend payout ratio is currently 203.77%.

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.