Edmond DE Rothschild Holding S.A. Raises Stock Holdings in American Tower Co. (NYSE:AMT)

Edmond DE Rothschild Holding S.A. grew its stake in shares of American Tower Co. (NYSE:AMT) by 16.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,062 shares of the real estate investment trust’s stock after buying an additional 2,402 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in American Tower were worth $3,129,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Glenview Trust co increased its stake in shares of American Tower by 0.8% in the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock worth $1,294,000 after purchasing an additional 54 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in American Tower by 4.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after buying an additional 58 shares during the period. Precedent Wealth Partners LLC increased its stake in American Tower by 4.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 58 shares in the last quarter. Resonant Capital Advisors LLC raised its holdings in American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after acquiring an additional 61 shares during the period. Finally, Calamos Wealth Management LLC boosted its stake in shares of American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after acquiring an additional 61 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AMT shares. BMO Capital Markets lifted their target price on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Barclays lifted their price target on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Scotiabank reduced 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. Three equities research 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. Based on data from MarketBeat, American Tower presently has an average rating of “Buy” and a consensus target price of $229.43.

American Tower Stock Up 1.0 %

NYSE:AMT opened at $217.78 on Tuesday. The company has a market cap of $101.80 billion, a price-to-earnings ratio of 91.89, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a fifty day simple moving average of $199.44 and a 200-day simple moving average of $204.20.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $2.29 EPS. Analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, April 11th. American Tower’s payout ratio is presently 141.37%.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

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.