OFI Invest Asset Management Invests $20.67 Million in American Tower Co. (NYSE:AMT)

OFI Invest Asset Management bought a new stake in shares of American Tower Co. (NYSE:AMT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 116,715 shares of the real estate investment trust’s stock, valued at approximately $20,673,000.

Other hedge funds have also bought and sold shares of the company. Personal CFO Solutions LLC raised its position in shares of American Tower by 18.7% during the 4th quarter. Personal CFO Solutions LLC now owns 1,749 shares of the real estate investment trust’s stock valued at $321,000 after purchasing an additional 276 shares during the period. Rialto Wealth Management LLC bought a new stake in American Tower during the fourth quarter valued at about $103,000. HM Payson & Co. lifted its position in shares of American Tower by 0.3% in the fourth quarter. HM Payson & Co. now owns 33,711 shares of the real estate investment trust’s stock valued at $6,183,000 after acquiring an additional 96 shares in the last quarter. AMF Tjanstepension AB grew its position in shares of American Tower by 143.5% during the fourth quarter. AMF Tjanstepension AB now owns 192,031 shares of the real estate investment trust’s stock worth $35,259,000 after purchasing an additional 113,178 shares in the last quarter. Finally, Davis Selected Advisers raised its position in shares of American Tower by 17.9% during the fourth quarter. Davis Selected Advisers now owns 89,530 shares of the real estate investment trust’s stock valued at $16,421,000 after buying an additional 13,590 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AMT. Barclays cut their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. 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. Citigroup dropped their price target on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. JMP Securities initiated coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Finally, BMO Capital Markets increased their target price on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average target price of $225.21.

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 that occurred 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 completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by corporate insiders.

American Tower Stock Up 2.7 %

Shares of NYSE AMT opened at $212.49 on Friday. The company has a market cap of $99.29 billion, a P/E ratio of 89.66, a PEG ratio of 1.29 and a beta of 0.85. The firm has a 50-day simple moving average of $189.60 and a two-hundred day simple moving average of $206.30. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the business earned $2.29 EPS. American Tower’s revenue was up 3.7% compared to the same quarter last year. Research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a dividend of $1.70 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.20%. American Tower’s dividend payout ratio (DPR) is presently 134.72%.

About American Tower

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.