Geode Capital Management LLC Has $2.07 Billion Holdings in American Tower Co. (NYSE:AMT)

Geode Capital Management LLC increased its position in American Tower Co. (NYSE:AMT) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,342,805 shares of the real estate investment trust’s stock after purchasing an additional 129,192 shares during the quarter. Geode Capital Management LLC’s holdings in American Tower were worth $2,074,956,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Glenview Trust co boosted its position in shares of American Tower by 0.8% during the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock valued at $1,294,000 after acquiring an additional 54 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in shares of 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 valued at $332,000 after purchasing an additional 58 shares during the period. Precedent Wealth Partners LLC lifted its position in shares of American Tower by 4.7% during 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 during the period. Resonant Capital Advisors LLC boosted its stake in American Tower by 5.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC grew its position in 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 valued at $398,000 after acquiring an additional 61 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AMT has been the topic of several recent analyst reports. JMP Securities assumed coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price on the stock. Barclays raised their price objective on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Morgan Stanley reduced their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Scotiabank cut their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Finally, The Goldman Sachs Group lowered their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $229.43.

American Tower Trading Up 1.0 %

NYSE:AMT opened at $217.78 on Tuesday. The firm has a market capitalization of $101.80 billion, a price-to-earnings ratio of 91.89, 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’s 50-day moving average price is $199.44 and its two-hundred day moving average price is $204.20. 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 issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the firm earned $2.29 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.12%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

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.