Handelsbanken Fonder AB Has $38.49 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Handelsbanken Fonder AB increased its holdings in shares of American Tower Co. (NYSE:AMT) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,869 shares of the real estate investment trust’s stock after purchasing an additional 9,156 shares during the period. Handelsbanken Fonder AB’s holdings in American Tower were worth $38,492,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Balentine LLC bought a new stake in American Tower in the 3rd quarter valued at $586,000. Nordea Investment Management AB raised its stake in shares of 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 bought a new stake in shares of American Tower in the third quarter valued at about $1,156,000. Brookstone Capital Management boosted 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 worth $1,629,000 after buying an additional 1,995 shares during the period. Finally, TigerOak Management L.L.C. bought a new position in shares of American Tower during the fourth quarter worth about $1,102,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of several research reports. Mizuho cut their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Scotiabank cut their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Citigroup cut their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Finally, The Goldman Sachs Group decreased their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average target price of $225.79.

American Tower Price Performance

Shares of NYSE AMT opened at $192.51 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The business’s 50 day moving average price is $185.78 and its two-hundred day moving average price is $207.88. The company has a market cap of $89.96 billion, a PE ratio of 81.23, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.37%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by 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.