First Financial Corp IN grew its stake in shares of American Tower Corp (NYSE:AMT) by 5.5% during the 4th quarter, Holdings Channel reports. The firm owned 3,032 shares of the real estate investment trust’s stock after buying an additional 157 shares during the period. First Financial Corp IN’s holdings in American Tower were worth $480,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Moody National Bank Trust Division acquired a new position in shares of American Tower during the 4th quarter worth approximately $44,000. Mount Yale Investment Advisors LLC increased its position in shares of American Tower by 354.4% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 718 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 560 shares during the last quarter. IMA Wealth Inc. acquired a new position in shares of American Tower during the 4th quarter worth approximately $112,000. TLP Group LLC acquired a new position in shares of American Tower during the 3rd quarter worth approximately $113,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of American Tower during the 3rd quarter worth approximately $142,000. 93.14% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE AMT opened at $163.05 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 3.11. American Tower Corp has a one year low of $130.37 and a one year high of $168.58. The firm has a market capitalization of $71.09 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 1.53 and a beta of 0.60.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. American Tower had a return on equity of 18.55% and a net margin of 17.07%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the firm posted $1.73 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts forecast that American Tower Corp will post 7.58 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 14th. Shareholders of record on Thursday, December 27th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.06%. This is a positive change from American Tower’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Wednesday, December 26th. American Tower’s dividend payout ratio is currently 52.66%.

In other American Tower news, EVP Edmund Disanto sold 10,463 shares of the company’s stock in a transaction on Friday, December 7th. The stock was sold at an average price of $167.04, for a total value of $1,747,739.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Thomas A. Bartlett sold 93,338 shares of the company’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $165.00, for a total value of $15,400,770.00. Following the completion of the transaction, the chief financial officer now directly owns 133,660 shares in the company, valued at $22,053,900. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 370,823 shares of company stock worth $59,320,913. Insiders own 0.87% of the company’s stock.

A number of research analysts recently weighed in on AMT shares. Barclays boosted their target price on American Tower from $156.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, October 31st. Citigroup lowered American Tower from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $161.00 to $176.00 in a report on Wednesday, October 31st. Bank of America set a $172.00 target price on American Tower and gave the stock a “buy” rating in a report on Wednesday, October 31st. Wells Fargo & Co boosted their target price on American Tower from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Friday, November 16th. Finally, KeyCorp boosted their target price on American Tower from $165.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, October 31st. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $166.33.

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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 170,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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