Amundi Has $376.54 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Amundi lessened its position in American Tower Co. (NYSE:AMT) by 35.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,094,804 shares of the real estate investment trust’s stock after selling 1,152,166 shares during the period. Amundi owned about 0.45% of American Tower worth $376,540,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AMT. Rialto Wealth Management LLC bought a new position in shares of American Tower in the fourth quarter valued at about $103,000. HM Payson & Co. raised its holdings in shares of American Tower by 0.3% in the fourth quarter. HM Payson & Co. now owns 33,711 shares of the real estate investment trust’s stock valued at $6,183,000 after buying an additional 96 shares during the last quarter. AMF Tjanstepension AB raised its holdings in shares of American Tower by 143.5% in the fourth quarter. AMF Tjanstepension AB now owns 192,031 shares of the real estate investment trust’s stock valued at $35,259,000 after buying an additional 113,178 shares during the last quarter. Davis Selected Advisers raised its holdings in shares of American Tower by 17.9% in the fourth quarter. Davis Selected Advisers now owns 89,530 shares of the real estate investment trust’s stock valued at $16,421,000 after buying an additional 13,590 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of American Tower in the fourth quarter valued at about $1,687,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

American Tower stock opened at $212.49 on Friday. The firm has a market capitalization of $99.29 billion, a P/E ratio of 89.66, a PEG ratio of 1.29 and a beta of 0.85. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The business has a 50-day moving average of $189.60 and a 200-day moving average of $206.30. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) 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 company 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% compared to the same quarter last year. On average, equities analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.20%. American Tower’s payout ratio is currently 134.72%.

Insider Activity at American Tower

In related 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 value of $3,000,283.70. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMT. Wells Fargo & Company cut their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Scotiabank dropped their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Citigroup dropped their price objective on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 14th. Finally, Morgan Stanley dropped their price objective on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

American Tower Company 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.