Rathbones Group PLC Has $78.10 Million Holdings in American Tower Co. (NYSE:AMT)

Rathbones Group PLC increased its holdings in shares of American Tower Co. (NYSE:AMT) by 17.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 425,830 shares of the real estate investment trust’s stock after acquiring an additional 64,782 shares during the period. Rathbones Group PLC’s holdings in American Tower were worth $78,101,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. Glenview Trust co boosted its position in American Tower by 0.8% during the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock valued at $1,294,000 after purchasing an additional 54 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in 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 last quarter. Precedent Wealth Partners LLC increased its holdings 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 acquiring an additional 58 shares during the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 61 shares during the last quarter. Finally, Calamos Wealth Management LLC lifted its stake in shares of American Tower by 2.9% during the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after buying an additional 61 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Tower

In other 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 completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

American Tower Stock Down 3.4 %

Shares of NYSE AMT opened at $220.43 on Monday. 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 Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a 50 day simple moving average of $202.22 and a 200 day simple moving average of $203.72. The firm has a market cap of $103.04 billion, a PE ratio of 93.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 earnings per share. On average, research analysts forecast that American Tower Co. will post 10.14 EPS 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 paid a $1.70 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Friday, April 11th. American Tower’s payout ratio is currently 141.37%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. BMO Capital Markets raised their price objective on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Citigroup increased their target price on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Morgan Stanley began coverage on American Tower in a research note on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 price target for the company. Finally, Barclays increased their price objective on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $232.07.

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.