Mill Capital Management LLC Has $22.13 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Mill Capital Management LLC increased its position in American Tower Co. (NYSE:AMT) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 120,683 shares of the real estate investment trust’s stock after purchasing an additional 1,440 shares during the quarter. American Tower accounts for 1.7% of Mill Capital Management LLC’s portfolio, making the stock its 18th biggest holding. Mill Capital Management LLC’s holdings in American Tower were worth $22,134,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Nordea Investment Management AB boosted its stake in American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after purchasing an additional 314,769 shares during the last quarter. Partners Group Holding AG boosted its stake in American Tower by 8.3% during the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock valued at $69,438,000 after purchasing an additional 28,988 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in American Tower during the 3rd quarter valued at about $1,156,000. TigerOak Management L.L.C. acquired a new position in American Tower during the 4th quarter valued at about $1,102,000. Finally, Brookstone Capital Management boosted its stake in American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after purchasing an additional 1,995 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of analyst reports. Morgan Stanley cut their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. The Goldman Sachs Group cut their price target 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. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, American Tower currently has an average rating of “Buy” and an average price target of $229.43.

American Tower Stock Up 1.0 %

American Tower stock opened at $216.41 on Monday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The firm has a market capitalization of $101.16 billion, a price-to-earnings ratio of 91.31, a P/E/G ratio of 1.29 and a beta of 0.85. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a 50 day simple moving average of $195.99 and a 200 day simple moving average of $205.24.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the business earned $2.29 EPS. American Tower’s revenue was up 3.7% compared to the same quarter last year. On average, analysts predict that American Tower Co. will post 10.14 earnings per share for the current 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 represents a $6.80 dividend on an annualized basis and a yield of 3.14%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. American Tower’s payout ratio is currently 141.37%.

Insider Activity at American Tower

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 completion of the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by company insiders.

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.