51,715 Shares in American Tower Co. (NYSE:AMT) Bought by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR purchased a new position in American Tower Co. (NYSE:AMT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,715 shares of the real estate investment trust’s stock, valued at approximately $9,485,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMT. Evoke Wealth LLC boosted its holdings in American Tower by 6.9% in the fourth quarter. Evoke Wealth LLC now owns 1,472 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 95 shares in the last quarter. Horizon Investments LLC boosted its holdings in American Tower by 2.2% in the fourth quarter. Horizon Investments LLC now owns 13,137 shares of the real estate investment trust’s stock worth $2,409,000 after acquiring an additional 284 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in American Tower by 0.9% in the fourth quarter. Advisors Asset Management Inc. now owns 107,745 shares of the real estate investment trust’s stock worth $19,762,000 after acquiring an additional 995 shares in the last quarter. PDS Planning Inc boosted its holdings in American Tower by 10.1% in the fourth quarter. PDS Planning Inc now owns 2,602 shares of the real estate investment trust’s stock worth $477,000 after acquiring an additional 239 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. boosted its holdings in American Tower by 3.4% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 3,389 shares of the real estate investment trust’s stock worth $622,000 after acquiring an additional 111 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

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 stock was 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 directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research analyst reports. Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $210.00 to $230.00 in a report on Monday. Citizens Jmp raised American Tower to a “strong-buy” rating in a report on Monday, January 27th. Scotiabank lowered their target price 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. JMP Securities initiated coverage on American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price on the stock. Finally, Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower has an average rating of “Buy” and an average target price of $228.79.

American Tower Price Performance

Shares of American Tower stock opened at $213.17 on Tuesday. The stock has a market cap of $99.65 billion, a price-to-earnings ratio of 89.95, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a 50 day moving average price of $192.99 and a 200-day moving average price of $205.61. 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, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the business earned $2.29 EPS. American Tower’s revenue was up 3.7% compared to the same quarter last year. Equities analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently announced 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 is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.19%. 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.