Sei Investments Co. Acquires 62,359 Shares of American Tower Co. (NYSE:AMT)

Sei Investments Co. raised its position in shares of American Tower Co. (NYSE:AMT) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 995,008 shares of the real estate investment trust’s stock after buying an additional 62,359 shares during the period. Sei Investments Co. owned about 0.21% of American Tower worth $182,494,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Glenview Trust co increased its holdings in shares of American Tower by 0.8% during the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock worth $1,294,000 after buying an additional 54 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after buying an additional 58 shares in the last quarter. Precedent Wealth Partners LLC increased its holdings in shares of American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 58 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after buying an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its holdings in shares of American Tower by 2.9% during the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMT shares. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. BMO Capital Markets raised their price target on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Scotiabank lowered their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Finally, JMP Securities assumed coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target for the company. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, American Tower currently has an average rating of “Buy” and an average target price of $229.43.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower 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 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 document filed with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of AMT stock opened at $216.41 on Friday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a market cap of $101.16 billion, a PE ratio of 91.31, a PEG ratio of 1.29 and a beta of 0.85. 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’s 50 day moving average price is $195.99 and its two-hundred day moving average price is $205.61.

American Tower (NYSE:AMT) last announced its quarterly 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 company 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 business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $2.29 earnings per share. As a group, analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.14%. 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. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

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.