Swedbank AB Purchases 4,627 Shares of American Tower Co. (NYSE:AMT)

Swedbank AB increased its position in shares of American Tower Co. (NYSE:AMT) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 602,841 shares of the real estate investment trust’s stock after acquiring an additional 4,627 shares during the quarter. Swedbank AB owned about 0.13% of American Tower worth $140,197,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meyer Handelman Co. bought a new position in American Tower during the 1st quarter worth approximately $801,000. Czech National Bank lifted its stake in American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after buying an additional 6,163 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in American Tower by 13.8% in the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after buying an additional 4,660 shares in the last quarter. Tidal Investments LLC lifted its stake in American Tower by 27.7% in the first quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after buying an additional 4,430 shares in the last quarter. Finally, Cetera Advisors LLC lifted its stake in American Tower by 29.0% in the first quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after buying an additional 9,275 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMT. Royal Bank of Canada lifted their price target on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. BMO Capital Markets boosted their price objective on shares of American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. The Goldman Sachs Group began coverage on shares of American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. Scotiabank boosted their price objective on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.21.

American Tower Trading Up 3.1 %

NYSE AMT traded up $6.88 during trading hours on Tuesday, reaching $228.58. The company’s stock had a trading volume of 1,171,207 shares, compared to its average volume of 2,283,965. The firm has a fifty day simple moving average of $228.48 and a 200-day simple moving average of $205.68. The stock has a market cap of $106.74 billion, a P/E ratio of 51.88, a P/E/G ratio of 1.00 and a beta of 0.83. American Tower Co. has a 52 week low of $157.25 and a 52 week high of $243.56. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 EPS. Equities analysts forecast that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 2.83%. American Tower’s payout ratio is 146.61%.

Insiders Place Their Bets

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the transaction, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the sale, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the sale, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is currently owned by insiders.

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.