LVM Capital Management Ltd. MI raised its holdings in American Tower Corp (NYSE:AMT) by 11.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 57,741 shares of the real estate investment trust’s stock after acquiring an additional 5,986 shares during the period. American Tower comprises approximately 1.9% of LVM Capital Management Ltd. MI’s holdings, making the stock its 21st biggest position. LVM Capital Management Ltd. MI’s holdings in American Tower were worth $8,238,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Waverton Investment Management Ltd increased its position in shares of American Tower by 1.2% during the fourth quarter. Waverton Investment Management Ltd now owns 49,729 shares of the real estate investment trust’s stock worth $7,095,000 after buying an additional 605 shares during the period. Bath Savings Trust Co increased its position in shares of American Tower by 11.6% during the fourth quarter. Bath Savings Trust Co now owns 47,773 shares of the real estate investment trust’s stock worth $6,816,000 after buying an additional 4,965 shares during the period. Boltwood Capital Management acquired a new stake in shares of American Tower during the fourth quarter worth $443,000. DnB Asset Management AS increased its position in shares of American Tower by 1.5% during the fourth quarter. DnB Asset Management AS now owns 48,702 shares of the real estate investment trust’s stock worth $6,948,000 after buying an additional 700 shares during the period. Finally, Atlantic Trust Group LLC increased its position in shares of American Tower by 89.8% during the third quarter. Atlantic Trust Group LLC now owns 1,896,026 shares of the real estate investment trust’s stock worth $259,148,000 after buying an additional 897,138 shares during the period. Hedge funds and other institutional investors own 91.61% of the company’s stock.

In related news, Director Samme L. Thompson sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $143.16, for a total transaction of $715,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman James D. Taiclet, Jr. sold 34,667 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $142.52, for a total transaction of $4,940,740.84. Following the sale, the chairman now owns 305,374 shares of the company’s stock, valued at approximately $43,521,902.48. The disclosure for this sale can be found here. Insiders have sold 109,251 shares of company stock valued at $15,765,734 in the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Shares of American Tower Corp (AMT) opened at $137.61 on Thursday. American Tower Corp has a 1-year low of $102.51 and a 1-year high of $155.28. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61. The stock has a market cap of $58,940.00, a PE ratio of 52.32, a P/E/G ratio of 1.46 and a beta of 0.73.

American Tower announced that its board has initiated a share repurchase program on Thursday, December 7th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, December 28th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, December 27th. This is an increase from American Tower’s previous quarterly dividend of $0.66. American Tower’s dividend payout ratio (DPR) is 106.46%.

Several equities research analysts have recently weighed in on the stock. Argus increased their price objective on shares of American Tower to $170.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. ValuEngine raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Morgan Stanley raised their price objective on shares of American Tower from $155.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, November 14th. Finally, KeyCorp reissued an “overweight” rating and set a $177.00 price target (up from $156.00) on shares of American Tower in a research report on Monday, November 27th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $158.60.

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American Tower Profile

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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

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