Ilmarinen Mutual Pension Insurance Co Has $10.45 Million Holdings in American Tower Co. (NYSE:AMT)

Ilmarinen Mutual Pension Insurance Co decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 20.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,949 shares of the real estate investment trust’s stock after selling 14,700 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in American Tower were worth $10,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AMT. Roxbury Financial LLC bought a new position in American Tower during the 4th quarter worth approximately $32,000. Graney & King LLC bought a new position in shares of American Tower during the fourth quarter worth $32,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower during the third quarter worth $34,000. Crowley Wealth Management Inc. bought a new stake in shares of American Tower in the 4th quarter valued at $37,000. Finally, Bank of Jackson Hole Trust acquired a new stake in American Tower during the 4th quarter worth $46,000. 92.69% of the stock is owned by institutional investors.

American Tower Trading Down 3.4 %

NYSE AMT opened at $220.43 on Friday. The company has a market cap of $103.04 billion, a PE ratio of 93.01, a PEG ratio of 1.29 and a beta of 0.87. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The stock has a 50 day moving average of $202.22 and a 200-day moving average of $203.95. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

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, beating analysts’ consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 EPS. On average, equities research analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a $1.70 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower 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 transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AMT shares. The Goldman Sachs Group decreased their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. JMP Securities initiated coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective for the company. BMO Capital Markets raised their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Finally, Mizuho cut their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Two investment 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, American Tower has a consensus 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.