Forsta AP Fonden Has $21.51 Million Position in American Tower Co. (NYSE:AMT)

Forsta AP Fonden increased its holdings in shares of American Tower Co. (NYSE:AMT) by 0.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 117,300 shares of the real estate investment trust’s stock after acquiring an additional 300 shares during the quarter. Forsta AP Fonden’s holdings in American Tower were worth $21,514,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in AMT. Balentine LLC bought a new stake in shares of American Tower in the third quarter valued at approximately $586,000. Nordea Investment Management AB boosted its holdings 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 valued at $260,743,000 after purchasing an additional 314,769 shares during the period. Point72 Hong Kong Ltd acquired a new stake in American Tower in the 3rd quarter worth $1,156,000. Czech National Bank increased its holdings in shares of American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after purchasing an additional 6,163 shares during the period. Finally, Brookstone Capital Management raised its position in shares of American Tower by 29.0% during 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 last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Down 2.6 %

Shares of AMT opened at $187.06 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 company has a market capitalization of $87.41 billion, a P/E ratio of 78.93, a PEG ratio of 1.24 and a beta of 0.84. The business’s 50 day simple moving average is $191.66 and its 200-day simple moving average is $210.97. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.58 EPS. As a group, sell-side analysts predict that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AMT shares. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group cut their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. BMO Capital Markets reduced their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday. Finally, JMP Securities assumed coverage on shares of American Tower in a report on Monday. They set an “outperform” rating and a $225.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $226.23.

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.