292,487 Shares in American Tower Co. (NYSE:AMT) Acquired by APG Asset Management N.V.

APG Asset Management N.V. acquired a new stake in American Tower Co. (NYSE:AMT) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 292,487 shares of the real estate investment trust’s stock, valued at approximately $51,806,000. APG Asset Management N.V. owned about 0.06% of American Tower as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Partners Group Holding AG increased its position in American Tower by 8.3% in the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock worth $69,438,000 after purchasing an additional 28,988 shares during the period. Nordea Investment Management AB boosted its stake in shares of American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after purchasing an additional 314,769 shares during the last quarter. TigerOak Management L.L.C. acquired a new stake in shares of American Tower during the 4th quarter worth approximately $1,102,000. Brookstone Capital Management lifted its holdings in American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after buying an additional 1,995 shares during the period. Finally, CCLA Investment Management boosted its stake in American Tower by 5.5% in the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock valued at $79,344,000 after acquiring an additional 22,523 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Morgan Stanley started coverage on American Tower in a research note on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 target price on the stock. Scotiabank decreased their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Barclays upped their price target on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, JMP Securities started coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower presently has a consensus rating of “Buy” and an average target price of $232.07.

American Tower Stock Down 4.5 %

AMT stock opened at $203.72 on Wednesday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $95.23 billion, a P/E ratio of 85.96, a P/E/G ratio of 1.29 and a beta of 0.87. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The business has a 50-day moving average of $203.37 and a 200-day moving average of $203.37.

American Tower (NYSE:AMT) last issued its quarterly earnings results 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. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $2.29 EPS. On average, sell-side analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This is a boost from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.34%. American Tower’s payout ratio is 141.37%.

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.