Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of American Tower Corp (NYSE:AMT) by 58.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 120,625 shares of the real estate investment trust’s stock after purchasing an additional 44,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in American Tower were worth $26,266,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its stake in shares of American Tower by 6.8% in the 4th quarter. State Street Corp now owns 19,878,737 shares of the real estate investment trust’s stock worth $4,588,391,000 after buying an additional 1,266,057 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in American Tower by 51.3% in the fourth quarter. Cohen & Steers Inc. now owns 9,031,127 shares of the real estate investment trust’s stock worth $2,075,534,000 after acquiring an additional 3,063,190 shares in the last quarter. Geode Capital Management LLC boosted its holdings in American Tower by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 6,368,646 shares of the real estate investment trust’s stock worth $1,460,474,000 after acquiring an additional 200,746 shares in the last quarter. Capital International Investors grew its stake in shares of American Tower by 0.8% in the fourth quarter. Capital International Investors now owns 5,892,855 shares of the real estate investment trust’s stock worth $1,354,296,000 after acquiring an additional 44,281 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of American Tower by 9.8% during the fourth quarter. Capital Research Global Investors now owns 4,972,400 shares of the real estate investment trust’s stock valued at $1,142,757,000 after acquiring an additional 442,934 shares in the last quarter. Hedge funds and other institutional investors own 91.73% of the company’s stock.
Several analysts recently commented on the stock. KeyCorp increased their price objective on shares of American Tower from $254.00 to $273.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Oppenheimer upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $270.00 price target on the stock in a report on Friday. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating in a research report on Thursday, March 12th. Citigroup raised American Tower from a “neutral” rating to a “buy” rating and set a $280.00 price objective on the stock in a research report on Thursday, March 5th. Finally, Credit Suisse Group assumed coverage on American Tower in a report on Tuesday, April 28th. They issued an “outperform” rating and a $308.00 target price for the company. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $257.38.
American Tower (NYSE:AMT) last posted its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.12). The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. American Tower had a net margin of 24.55% and a return on equity of 35.63%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.84 EPS. Equities analysts forecast that American Tower Corp will post 8 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 19th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Thursday, June 18th. This is a boost from American Tower’s previous quarterly dividend of $1.08. American Tower’s dividend payout ratio is 55.89%.
In other news, EVP Steven O. Vondran sold 1,229 shares of American Tower stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $205.81, for a total transaction of $252,940.49. Following the transaction, the executive vice president now owns 27,469 shares in the company, valued at approximately $5,653,394.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Olivier Puech sold 2,184 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $223.63, for a total transaction of $488,407.92. Following the sale, the executive vice president now directly owns 21,887 shares of the company’s stock, valued at approximately $4,894,589.81. The disclosure for this sale can be found here. In the last three months, insiders sold 14,392 shares of company stock worth $3,343,752. 0.65% of the stock is currently owned by insiders.
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 approximately 171,000 communications sites.
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