Tredje AP fonden Has $13.95 Million Stake in American Tower Co. (NYSE:AMT)

Tredje AP fonden decreased its stake in American Tower Co. (NYSE:AMT) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,046 shares of the real estate investment trust’s stock after selling 3,075 shares during the quarter. Tredje AP fonden’s holdings in American Tower were worth $13,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AMT. FMR LLC lifted its stake in American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after buying an additional 2,152,646 shares during the period. Adelante Capital Management LLC grew its position in shares of American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after purchasing an additional 1,160,890 shares during the period. Raymond James Financial Inc. bought a new stake in American Tower during the 4th quarter worth approximately $193,246,000. Daiwa Securities Group Inc. raised its holdings in American Tower by 456.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust’s stock worth $206,269,000 after buying an additional 922,701 shares during the period. Finally, State Street Corp lifted its stake in American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after buying an additional 635,726 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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 on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following 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 legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research reports. Scotiabank cut their price target on shares of 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. Citigroup lifted their price target on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets boosted their price objective on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company cut their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $226.29.

American Tower Stock Performance

NYSE AMT opened at $207.29 on Friday. The firm’s fifty day moving average price is $191.76 and its two-hundred day moving average price is $206.06. The stock has a market cap of $96.90 billion, a PE ratio of 87.46, a PEG ratio of 1.29 and a beta of 0.85. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

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

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a $1.70 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.28%. American Tower’s payout ratio is currently 141.37%.

American Tower 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.