American Tower Co. (NYSE:AMT) Stock Position Increased by Invesco Ltd.

Invesco Ltd. boosted its holdings in American Tower Co. (NYSE:AMT) by 8.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,941,586 shares of the real estate investment trust’s stock after acquiring an additional 455,225 shares during the quarter. Invesco Ltd.’s holdings in American Tower were worth $1,089,746,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Roxbury Financial LLC acquired a new stake in American Tower in the fourth quarter worth about $32,000. Graney & King LLC bought a new position in American Tower during the 4th quarter valued at $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the third quarter valued at $34,000. Crowley Wealth Management Inc. bought a new position in shares of American Tower during the 4th quarter valued at about $37,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of American Tower in the 4th quarter worth approximately $46,000. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated 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 represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMT shares. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company upgraded American Tower from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $210.00 to $230.00 in a research note on Monday, March 17th. Barclays raised their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, Citigroup lifted their target price on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, American Tower has an average rating of “Buy” and a consensus price target of $232.07.

American Tower Price Performance

AMT opened at $220.43 on Monday. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a fifty day simple moving average of $202.22 and a 200 day simple moving average of $203.72. The stock has a market cap of $103.04 billion, a P/E ratio of 93.01, a P/E/G ratio of 1.29 and a beta of 0.87. The company has a quick ratio of 0.69, a current 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 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.29 EPS. On average, research analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a $1.70 dividend. This is a positive change 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 yield of 3.08%. American Tower’s dividend payout ratio is currently 141.37%.

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.