American Tower Co. (NYSE:AMT) Shares Bought by Level Four Advisory Services LLC

Level Four Advisory Services LLC grew its position in shares of American Tower Co. (NYSE:AMT) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,280 shares of the real estate investment trust’s stock after purchasing an additional 621 shares during the quarter. Level Four Advisory Services LLC’s holdings in American Tower were worth $5,370,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of American Tower during the 4th quarter worth $1,164,851,000. Adelante Capital Management LLC increased its stake in American Tower by 2,723.4% during the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after acquiring an additional 1,160,890 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of American Tower in the fourth quarter worth $193,246,000. Daiwa Securities Group Inc. raised its position in American Tower by 456.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust’s stock valued at $206,269,000 after purchasing an additional 922,701 shares during the period. Finally, State Street Corp boosted its holdings in American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after acquiring an additional 635,726 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 0.7 %

Shares of AMT stock opened at $215.52 on Friday. The firm has a fifty day moving average of $198.89 and a 200-day moving average of $204.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market capitalization of $100.74 billion, a price-to-earnings ratio of 90.94, a P/E/G ratio of 1.29 and a beta of 0.85. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

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, topping the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.55 billion for 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 for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts predict that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, April 11th. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction 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 approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

AMT has been the topic of several analyst reports. Morgan Stanley dropped their price objective on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. The Goldman Sachs Group dropped their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. BMO Capital Markets raised their target price on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Barclays upped their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, Citigroup lifted their price target on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $229.43.

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.