Coastal Investment Advisors Inc. lifted its holdings in American Tower Co. (REIT) (NYSE:AMT) by 21.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,072 shares of the real estate investment trust’s stock after buying an additional 539 shares during the period. Coastal Investment Advisors Inc.’s holdings in American Tower were worth $690,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its holdings in American Tower by 2.1% in the 3rd quarter. BlackRock Inc. now owns 33,571,973 shares of the real estate investment trust’s stock valued at $8,115,354,000 after acquiring an additional 696,521 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of American Tower by 10.8% in the 3rd quarter. Wells Fargo & Company MN now owns 4,879,716 shares of the real estate investment trust’s stock worth $1,179,573,000 after buying an additional 476,541 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of American Tower by 9.1% in the 3rd quarter. Principal Financial Group Inc. now owns 3,973,274 shares of the real estate investment trust’s stock worth $960,460,000 after buying an additional 329,912 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of American Tower by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,846,757 shares of the real estate investment trust’s stock worth $929,877,000 after buying an additional 35,428 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of American Tower by 1.4% during the 3rd quarter. California Public Employees Retirement System now owns 2,704,669 shares of the real estate investment trust’s stock worth $653,800,000 after purchasing an additional 36,061 shares during the period. 89.97% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of American Tower from a “buy” rating to a “hold” rating and dropped their price target for the stock from $295.00 to $245.00 in a research note on Friday, December 11th. Morgan Stanley dropped their price target on shares of American Tower from $250.00 to $244.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 20th. Wells Fargo & Company dropped their price target on shares of American Tower from $290.00 to $285.00 and set an “overweight” rating for the company in a research note on Wednesday, September 16th. Raymond James lowered their price objective on shares of American Tower from $276.00 to $258.00 and set an “outperform” rating for the company in a research report on Tuesday, November 3rd. Finally, Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $258.00 price objective for the company in a research report on Monday, October 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. American Tower has a consensus rating of “Buy” and an average target price of $272.73.

Shares of AMT opened at $216.46 on Thursday. The company has a 50 day moving average price of $222.79 and a 200-day moving average price of $241.75. American Tower Co. has a fifty-two week low of $174.32 and a fifty-two week high of $272.20. The stock has a market capitalization of $96.15 billion, a PE ratio of 51.17, a PEG ratio of 1.55 and a beta of 0.25. The company has a debt-to-equity ratio of 5.73, a quick ratio of 1.35 and a current ratio of 1.35.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, November 3rd. The real estate investment trust reported $1.04 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.06). The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.97 billion. American Tower had a return on equity of 42.42% and a net margin of 24.08%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.93 EPS. Equities research analysts forecast that American Tower Co. will post 8.16 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 2nd. Shareholders of record on Monday, December 28th will be paid a dividend of $1.21 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.14. The ex-dividend date is Thursday, December 24th. This represents a $4.84 dividend on an annualized basis and a yield of 2.24%. American Tower’s dividend payout ratio is presently 62.61%.

In other news, EVP Olivier Puech sold 320 shares of the company’s stock in a transaction on Friday, January 8th. The shares were sold at an average price of $220.00, for a total value of $70,400.00. Following the sale, the executive vice president now directly owns 17,146 shares of the company’s stock, valued at approximately $3,772,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven O. Vondran sold 1,500 shares of the company’s stock in a transaction on Tuesday, December 1st. The shares were sold at an average price of $232.00, for a total transaction of $348,000.00. Following the completion of the sale, the executive vice president now directly owns 23,526 shares in the company, valued at $5,458,032. The disclosure for this sale can be found here. Insiders have sold a total of 4,948 shares of company stock worth $1,119,029 in the last 90 days. 0.65% of the stock is currently 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 approximately 181,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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