Erste Asset Management GmbH Has $2.24 Million Position in American Tower Co. (NYSE:AMT)

Erste Asset Management GmbH lifted its stake in American Tower Co. (NYSE:AMT) by 14.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,289 shares of the real estate investment trust’s stock after buying an additional 1,505 shares during the period. Erste Asset Management GmbH’s holdings in American Tower were worth $2,235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower during the 3rd quarter worth approximately $34,000. Activest Wealth Management boosted its stake in American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares in the last quarter. Roxbury Financial LLC bought a new stake in American Tower in the 4th quarter valued at $32,000. Hobbs Group Advisors LLC raised its stake in shares of American Tower by 51.0% in the 3rd quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 75 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of American Tower by 49.3% during the 3rd quarter. Larson Financial Group LLC now owns 227 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 75 shares during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

AMT opened at $211.02 on Friday. The company has a fifty day moving average price of $192.33 and a two-hundred day moving average price of $205.96. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $98.64 billion, a PE ratio of 89.04, a P/E/G ratio of 1.29 and a beta of 0.85. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the previous year, the firm earned $2.29 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The company 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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.22%. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on AMT shares. Citigroup raised their price target on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. JMP Securities started coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Mizuho reduced their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $226.29.

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.