Ilmarinen Mutual Pension Insurance Co Has $10.45 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Ilmarinen Mutual Pension Insurance Co lowered its stake in American Tower Co. (NYSE:AMT) by 20.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 56,949 shares of the real estate investment trust’s stock after selling 14,700 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in American Tower were worth $10,445,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMT. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower during the 3rd quarter valued at $34,000. Graney & King LLC bought a new position in American Tower in the fourth quarter valued at about $32,000. Roxbury Financial LLC acquired a new stake in shares of American Tower during the fourth quarter valued at about $32,000. Crowley Wealth Management Inc. bought a new stake in shares of American Tower during the fourth quarter worth about $37,000. Finally, Hobbs Group Advisors LLC increased its stake in shares of American Tower by 51.0% in the third quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 75 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE AMT opened at $220.43 on Friday. 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 fifty day moving average price of $202.22 and a 200-day moving average price of $203.95. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a market cap of $103.04 billion, a price-to-earnings ratio of 93.01, a PEG ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.29 EPS. As a group, equities research analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently disclosed 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 represents a $6.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Friday, April 11th. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is 141.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AMT shares. Morgan Stanley started coverage on shares of American Tower in a report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 target price on the stock. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Scotiabank lowered 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. BMO Capital Markets upped their price target on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company upgraded American Tower from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $232.07.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 sale, the chief financial officer now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

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.