Handelsbanken Fonder AB Has $38.49 Million Holdings in American Tower Co. (NYSE:AMT)

Handelsbanken Fonder AB increased its holdings in shares of American Tower Co. (NYSE:AMT) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 209,869 shares of the real estate investment trust’s stock after acquiring an additional 9,156 shares during the quarter. Handelsbanken Fonder AB’s holdings in American Tower were worth $38,492,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Balentine LLC bought a new position in shares of American Tower during the third quarter worth approximately $586,000. Nordea Investment Management AB grew its position in American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after buying an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in American Tower during the 3rd quarter worth $1,156,000. Brookstone Capital Management raised its holdings in American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after acquiring an additional 1,995 shares in the last quarter. Finally, TigerOak Management L.L.C. bought a new stake in shares of American Tower during the 4th quarter valued at $1,102,000. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMT. The Goldman Sachs Group dropped their price target 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. Citigroup dropped their target price on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Mizuho reduced their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Barclays lowered their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.79.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $192.51 on Friday. The firm has a market capitalization of $89.96 billion, a price-to-earnings ratio of 81.23, a PEG ratio of 1.27 and a beta of 0.84. 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 business’s 50-day moving average price is $185.78 and its 200-day moving average price is $207.88. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is 273.42%.

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.