E. Ohman J or Asset Management AB Raises Stock Position in American Tower Co. (NYSE:AMT)

E. Ohman J or Asset Management AB raised its stake in shares of American Tower Co. (NYSE:AMT) by 12.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,770 shares of the real estate investment trust’s stock after purchasing an additional 2,220 shares during the period. E. Ohman J or Asset Management AB’s holdings in American Tower were worth $3,809,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Czech National Bank lifted its position in shares of 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 acquiring an additional 6,163 shares in the last quarter. GAMMA Investing LLC raised its stake in American Tower by 34.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,871 shares of the real estate investment trust’s stock valued at $1,598,000 after purchasing an additional 1,757 shares during the last quarter. Diversified Trust Co boosted its stake in American Tower by 66.8% during the 3rd quarter. Diversified Trust Co now owns 4,750 shares of the real estate investment trust’s stock worth $1,105,000 after purchasing an additional 1,902 shares during the last quarter. Everpar Advisors LLC grew its holdings in shares of American Tower by 11.8% during the third quarter. Everpar Advisors LLC now owns 2,047 shares of the real estate investment trust’s stock worth $476,000 after buying an additional 216 shares in the last quarter. Finally, Chemistry Wealth Management LLC acquired a new stake in shares of American Tower in the third quarter valued at about $207,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction that occurred 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $185.53 on Tuesday. The stock has a market capitalization of $86.70 billion, a P/E ratio of 78.28, a PEG ratio of 1.24 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a 50 day moving average price of $190.58 and a 200 day moving average price of $210.42.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were paid a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.49%. American Tower’s payout ratio is presently 273.42%.

Analyst Ratings Changes

Several analysts recently issued reports on AMT shares. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. JMP Securities started coverage on American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Barclays cut their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Scotiabank lowered their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $226.23.

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.