American Tower Co. (NYSE:AMT) Shares Bought by Family Legacy Inc.

Family Legacy Inc. lifted its position in shares of American Tower Co. (NYSE:AMT) by 10.1% during the fourth quarter, HoldingsChannel reports. The fund owned 1,565 shares of the real estate investment trust’s stock after acquiring an additional 143 shares during the quarter. Family Legacy Inc.’s holdings in American Tower were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. grew its position in American Tower by 16.4% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 17,062 shares of the real estate investment trust’s stock worth $3,129,000 after buying an additional 2,402 shares during the period. O Shaughnessy Asset Management LLC increased its stake in American Tower by 30.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 65,047 shares of the real estate investment trust’s stock valued at $11,930,000 after purchasing an additional 15,064 shares in the last quarter. Bcwm LLC purchased a new position in American Tower in the 4th quarter valued at approximately $3,350,000. United Bank raised its holdings in American Tower by 8.1% during the fourth quarter. United Bank now owns 5,223 shares of the real estate investment trust’s stock worth $958,000 after purchasing an additional 391 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in American Tower by 4.2% during the fourth quarter. California Public Employees Retirement System now owns 1,631,644 shares of the real estate investment trust’s stock worth $299,260,000 after purchasing an additional 65,641 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.7 %

Shares of AMT opened at $215.52 on Monday. The stock’s fifty day simple moving average is $198.89 and its 200 day simple moving average is $204.34. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $100.74 billion, a P/E ratio of 90.94, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 EPS. On average, equities research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.16%. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s dividend payout ratio is 141.37%.

Analyst Ratings Changes

Several research firms have recently issued reports on AMT. Barclays lifted their price target on American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. JMP Securities began coverage on shares of American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Wells Fargo & Company upgraded shares of American Tower from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $210.00 to $230.00 in a report on Monday, March 17th. Three 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. According to data from MarketBeat, American Tower presently has a consensus rating of “Buy” and an average price target of $229.43.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

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.