Livforsakringsbolaget Skandia Omsesidigt Raises Stock Holdings in American Tower Co. (NYSE:AMT)

Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of American Tower Co. (NYSE:AMT) by 300.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,297 shares of the real estate investment trust’s stock after purchasing an additional 2,474 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in American Tower were worth $766,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in AMT. Northwest Investment Counselors LLC purchased a new stake in American Tower in the first quarter worth $25,000. Cultivar Capital Inc. purchased a new stake in shares of American Tower in the 2nd quarter worth about $25,000. Fairscale Capital LLC bought a new stake in shares of American Tower during the 2nd quarter valued at about $27,000. Hobbs Group Advisors LLC purchased a new position in shares of American Tower during the second quarter valued at about $29,000. Finally, SOA Wealth Advisors LLC. bought a new position in American Tower in the first quarter worth about $30,000. Institutional investors own 92.69% of the company’s stock.

Insider Activity

In related news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the sale, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock worth $7,795,397 over the last quarter. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research analyst reports. TD Cowen upped their target price on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Barclays raised their price objective on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday. Mizuho upped their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $245.00 to $230.00 in a research report on Thursday. Finally, StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.21.

American Tower Trading Up 0.6 %

NYSE:AMT opened at $219.27 on Monday. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The business has a fifty day moving average price of $228.56 and a 200-day moving average price of $205.51. The firm has a market capitalization of $102.39 billion, a price-to-earnings ratio of 49.61, a price-to-earnings-growth ratio of 1.00 and a beta of 0.83. American Tower Co. has a one year low of $157.25 and a one year high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the firm posted $2.46 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that American Tower Co. will post 10.13 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is currently 146.61%.

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.