American Tower Co. (NYSE:AMT) Stock Holdings Decreased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co decreased its stake in shares of American Tower Co. (NYSE:AMT) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,625 shares of the real estate investment trust’s stock after selling 1,756 shares during the period. Elo Mutual Pension Insurance Co’s holdings in American Tower were worth $7,818,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of American Tower by 9.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 738,680 shares of the real estate investment trust’s stock valued at $134,853,000 after buying an additional 63,634 shares during the last quarter. Korea Investment CORP raised its stake in American Tower by 35.5% during the 4th quarter. Korea Investment CORP now owns 366,801 shares of the real estate investment trust’s stock valued at $67,275,000 after acquiring an additional 96,153 shares in the last quarter. Graney & King LLC acquired a new position in American Tower during the 4th quarter worth $32,000. Account Management LLC grew its stake in shares of American Tower by 0.7% in the fourth quarter. Account Management LLC now owns 19,050 shares of the real estate investment trust’s stock worth $3,494,000 after purchasing an additional 125 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. acquired a new stake in American Tower in the fourth quarter worth about $1,068,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Scotiabank cut 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. JMP Securities began coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Mizuho cut their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, BMO Capital Markets boosted their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $229.43.

American Tower Stock Performance

Shares of AMT opened at $209.91 on Thursday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company’s 50 day moving average price is $197.91 and its 200 day moving average price is $204.94. The company has a market capitalization of $98.12 billion, a PE ratio of 88.57, a PEG ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last posted its 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. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the company earned $2.29 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Research analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders 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 represents a $6.80 dividend on an annualized basis and a dividend yield of 3.24%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is currently 141.37%.

Insider Activity at American Tower

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

American Tower Profile

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.