Altman Advisors Inc. Has $1.44 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Altman Advisors Inc. raised its position in American Tower Co. (NYSE:AMT) by 2.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,842 shares of the real estate investment trust’s stock after purchasing an additional 186 shares during the period. Altman Advisors Inc.’s holdings in American Tower were worth $1,438,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of AMT. Geode Capital Management LLC boosted its position in shares of American Tower by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust’s stock worth $2,074,956,000 after purchasing an additional 129,192 shares in the last quarter. FMR LLC lifted its position in American Tower by 5.0% in the 4th quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust’s stock valued at $2,050,390,000 after acquiring an additional 537,136 shares in the last quarter. Norges Bank purchased a new position in shares of American Tower during the fourth quarter valued at approximately $1,164,851,000. Invesco Ltd. lifted its stake in American Tower by 8.3% during the 4th quarter. Invesco Ltd. now owns 5,941,586 shares of the real estate investment trust’s stock valued at $1,089,746,000 after acquiring an additional 455,225 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of American Tower by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,316,312 shares of the real estate investment trust’s stock valued at $975,065,000 after purchasing an additional 107,345 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $213.25 on Friday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $99.69 billion, a price-to-earnings ratio of 89.98, a PEG ratio of 1.29 and a beta of 0.87. The business has a 50-day simple moving average of $205.31 and a two-hundred day simple moving average of $202.85.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $2.29 earnings per share. On average, analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.19%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMT. Barclays upped their price objective on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Scotiabank decreased their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company upgraded American Tower from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $210.00 to $230.00 in a research note on Monday, March 17th. Finally, Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $232.07.

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.