American Tower Co. (NYSE:AMT) Shares Purchased by Slow Capital Inc.

Slow Capital Inc. grew its stake in shares of American Tower Co. (NYSE:AMT) by 1.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 14,417 shares of the real estate investment trust’s stock after purchasing an additional 239 shares during the period. Slow Capital Inc.’s holdings in American Tower were worth $2,654,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp boosted its position in American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after purchasing an additional 635,726 shares in the last quarter. Geode Capital Management LLC grew its stake in American Tower by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after acquiring an additional 204,426 shares during the last quarter. FMR LLC increased its holdings in American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after acquiring an additional 2,152,646 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in American Tower by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock worth $1,211,397,000 after acquiring an additional 243,061 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock worth $981,455,000 after purchasing an additional 38,436 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AMT shares. Scotiabank dropped their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. BMO Capital Markets cut their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Mizuho decreased their price target 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. Wells Fargo & Company cut their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average price target of $226.31.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was 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 owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

American Tower Stock Up 3.7 %

AMT opened at $192.01 on Tuesday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a 50 day moving average price of $192.08 and a 200 day moving average price of $211.24. 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 company has a market cap of $89.72 billion, a PE ratio of 81.01, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the business posted $2.58 EPS. The business’s revenue was down 10.5% on a year-over-year basis. Sell-side analysts expect that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s payout ratio is 273.42%.

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.