Newman Dignan & Sheerar Inc. boosted its stake in shares of American Tower Corp (NYSE:AMT) by 7.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,750 shares of the real estate investment trust’s stock after purchasing an additional 120 shares during the period. Newman Dignan & Sheerar Inc.’s holdings in American Tower were worth $402,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of American Tower by 0.4% in the second quarter. Vanguard Group Inc. now owns 57,494,934 shares of the real estate investment trust’s stock worth $11,754,838,000 after buying an additional 248,968 shares during the last quarter. BlackRock Inc. lifted its stake in shares of American Tower by 4.0% in the second quarter. BlackRock Inc. now owns 31,549,686 shares of the real estate investment trust’s stock worth $6,450,332,000 after buying an additional 1,213,664 shares during the last quarter. State Street Corp lifted its stake in shares of American Tower by 1.3% in the third quarter. State Street Corp now owns 18,612,680 shares of the real estate investment trust’s stock worth $4,133,390,000 after buying an additional 238,036 shares during the last quarter. Invesco Ltd. lifted its stake in shares of American Tower by 8.3% in the second quarter. Invesco Ltd. now owns 4,140,203 shares of the real estate investment trust’s stock worth $846,465,000 after buying an additional 316,054 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of American Tower by 16,153.9% in the second quarter. Nuveen Asset Management LLC now owns 3,848,439 shares of the real estate investment trust’s stock worth $786,813,000 after buying an additional 3,824,762 shares during the last quarter. 91.63% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on AMT shares. Goldman Sachs Group upgraded shares of American Tower from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $204.00 to $270.00 in a research note on Monday. Cowen boosted their price objective on shares of American Tower from $238.00 to $260.00 and gave the stock an “in-line” rating in a research note on Friday, November 1st. KeyCorp boosted their target price on shares of American Tower from $242.00 to $254.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. ValuEngine lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley reaffirmed a “hold” rating and set a $218.00 target price (up previously from $216.00) on shares of American Tower in a research report on Friday, November 22nd. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $224.36.

AMT stock traded up $1.43 on Wednesday, reaching $235.38. 1,152,103 shares of the company were exchanged, compared to its average volume of 1,461,570. American Tower Corp has a 12 month low of $162.83 and a 12 month high of $242.00. The stock’s fifty day moving average price is $221.41 and its 200 day moving average price is $218.69. The firm has a market capitalization of $102.23 billion, a PE ratio of 29.46, a PEG ratio of 1.50 and a beta of 0.41. The company has a debt-to-equity ratio of 4.40, a current ratio of 0.53 and a quick ratio of 0.53.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.17. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.88 billion. American Tower had a net margin of 20.58% and a return on equity of 27.12%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 EPS. As a group, research analysts expect that American Tower Corp will post 7.64 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Thursday, December 26th. This is a positive change from American Tower’s previous quarterly dividend of $0.95. American Tower’s payout ratio is 50.56%.

In related news, SVP Robert Joseph Meyer, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $206.78, for a total transaction of $206,780.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Olivier Puech sold 313 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $228.56, for a total transaction of $71,539.28. Following the transaction, the executive vice president now owns 18,723 shares in the company, valued at approximately $4,279,328.88. The disclosure for this sale can be found here. Insiders sold a total of 5,574 shares of company stock worth $1,250,626 in the last three months. Insiders own 0.75% of the company’s stock.

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 approximately 171,000 communications sites.

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

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