American Tower Co. (NYSE:AMT) Shares Purchased by Mariner LLC

Mariner LLC boosted its position in American Tower Co. (NYSE:AMT) by 30.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 363,088 shares of the real estate investment trust’s stock after purchasing an additional 85,693 shares during the quarter. Mariner LLC owned about 0.08% of American Tower worth $66,585,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Partners Group Holding AG boosted its position in American Tower by 8.3% during 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 acquiring an additional 28,988 shares during the last quarter. Nordea Investment Management AB lifted its stake in 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 worth $260,743,000 after purchasing an additional 314,769 shares in the last quarter. TigerOak Management L.L.C. acquired a new position in shares of American Tower during the 4th quarter worth approximately $1,102,000. Brookstone Capital Management grew its position in shares of 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 purchasing an additional 1,995 shares in the last quarter. Finally, CCLA Investment Management lifted its position in American Tower by 5.5% during the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock worth $79,344,000 after buying an additional 22,523 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction 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 $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AMT shares. Citigroup raised their target price on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Barclays boosted their target price on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Wells Fargo & Company upgraded shares of American Tower from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $210.00 to $230.00 in a report on Monday, March 17th. Finally, Scotiabank decreased their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $232.07.

American Tower Price Performance

AMT stock opened at $217.66 on Tuesday. The business’s fifty day moving average price is $205.92 and its 200 day moving average price is $202.56. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a market capitalization of $101.75 billion, a PE ratio of 91.84, a P/E/G ratio of 1.29 and a beta of 0.87. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.29 earnings per share. On average, sell-side analysts anticipate that American Tower Co. will post 10.14 EPS for the current 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 paid a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.12%. 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.