Metis Global Partners LLC Increases Holdings in American Tower Co. (NYSE:AMT)

Metis Global Partners LLC lifted its position in shares of American Tower Co. (NYSE:AMT) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,689 shares of the real estate investment trust’s stock after acquiring an additional 755 shares during the quarter. Metis Global Partners LLC’s holdings in American Tower were worth $4,712,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AMT. FMR LLC boosted its stake in shares of American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC boosted its stake in shares of American Tower by 2,723.4% during the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after acquiring an additional 1,160,890 shares in the last quarter. State Street Corp boosted its stake in shares of American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after acquiring an additional 635,726 shares in the last quarter. KBC Group NV lifted its stake in American Tower by 270.4% in the 3rd quarter. KBC Group NV now owns 466,772 shares of the real estate investment trust’s stock valued at $108,553,000 after buying an additional 340,742 shares in the last quarter. Finally, Brookfield Corp ON lifted its stake in American Tower by 88.3% in the 3rd quarter. Brookfield Corp ON now owns 710,725 shares of the real estate investment trust’s stock valued at $165,286,000 after buying an additional 333,209 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction 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 completion of 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 position. 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

AMT has been the topic of a number of recent research reports. Mizuho reduced their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Barclays reduced their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Hsbc Global Res raised American Tower to a “strong-buy” rating in a research note on Thursday. Scotiabank reduced their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Finally, Morgan Stanley reduced their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Four investment 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

American Tower Trading Up 0.8 %

AMT stock opened at $205.61 on Friday. The company has a market cap of $96.08 billion, a price-to-earnings ratio of 86.76, a PEG ratio of 1.29 and a beta of 0.84. 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 business has a fifty day simple moving average of $187.09 and a 200-day simple moving average of $206.81. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last released 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. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 EPS. On average, equities research analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.15%. American Tower’s dividend payout ratio is currently 273.42%.

About American Tower

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.