Edmond DE Rothschild Holding S.A. Raises Stock Position in American Tower Co. (NYSE:AMT)

Edmond DE Rothschild Holding S.A. boosted its position in shares of American Tower Co. (NYSE:AMT) by 16.4% in the fourth quarter, HoldingsChannel reports. The fund owned 17,062 shares of the real estate investment trust’s stock after purchasing an additional 2,402 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in American Tower were worth $3,129,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Partners Group Holding AG grew its stake in American Tower by 8.3% during the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock worth $69,438,000 after buying an additional 28,988 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of 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 acquiring an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of American Tower during the third quarter valued at about $1,156,000. TigerOak Management L.L.C. purchased a new position in shares of American Tower in the 4th quarter valued at approximately $1,102,000. Finally, Brookstone Capital Management boosted its stake 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 worth $1,629,000 after purchasing an additional 1,995 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Barclays increased their price objective on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Morgan Stanley reduced their price objective on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Finally, Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $229.43.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the 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 directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

American Tower Stock Up 1.0 %

AMT stock opened at $217.78 on Tuesday. The firm’s fifty day moving average is $199.44 and its 200 day moving average is $204.20. The firm has a market cap of $101.80 billion, a PE ratio of 91.89, a P/E/G ratio of 1.29 and a beta of 0.85. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

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

American Tower Increases Dividend

The firm also recently announced 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. 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 dividend yield of 3.12%. American Tower’s dividend payout ratio (DPR) is 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.