Swedbank Has $126.87 Million Stake in American Tower Co. (REIT) (NYSE:AMT)


Share on StockTwits

Swedbank raised its position in American Tower Co. (REIT) (NYSE:AMT) by 32.6% during the fourth quarter, Holdings Channel reports. The firm owned 575,786 shares of the real estate investment trust’s stock after purchasing an additional 141,710 shares during the period. Swedbank’s holdings in American Tower were worth $126,869,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Blair William & Co. IL lifted its position in shares of American Tower by 4.0% in the 4th quarter. Blair William & Co. IL now owns 672,703 shares of the real estate investment trust’s stock worth $150,995,000 after purchasing an additional 25,954 shares during the period. CI Investments Inc. lifted its position in shares of American Tower by 11.0% during the 4th quarter. CI Investments Inc. now owns 120,891 shares of the real estate investment trust’s stock valued at $27,135,000 after acquiring an additional 12,011 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of American Tower by 6.0% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 128,359 shares of the real estate investment trust’s stock valued at $28,811,000 after acquiring an additional 7,230 shares during the period. ProShare Advisors LLC lifted its position in shares of American Tower by 5.2% during the 4th quarter. ProShare Advisors LLC now owns 107,838 shares of the real estate investment trust’s stock valued at $24,205,000 after acquiring an additional 5,298 shares during the period. Finally, Avenue 1 Advisors LLC acquired a new position in shares of American Tower during the 4th quarter valued at $265,000. Hedge funds and other institutional investors own 89.97% of the company’s stock.

A number of research analysts recently issued reports on the stock. Credit Suisse Group boosted their target price on shares of American Tower from $300.00 to $301.00 and gave the company an “outperform” rating in a research report on Tuesday, November 3rd. Raymond James dropped their target price on shares of American Tower from $276.00 to $258.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of American Tower from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $295.00 to $245.00 in a report on Friday, December 11th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $272.73.

NYSE AMT opened at $225.07 on Tuesday. American Tower Co. has a 1 year low of $174.32 and a 1 year high of $272.20. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $99.98 billion, a price-to-earnings ratio of 53.21, a PEG ratio of 1.57 and a beta of 0.25. The company has a fifty day moving average price of $225.09 and a 200-day moving average price of $235.05.

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 2nd. Stockholders of record on Monday, December 28th were paid a $1.21 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.14. The ex-dividend date was Thursday, December 24th. This represents a $4.84 annualized dividend and a dividend yield of 2.15%. American Tower’s dividend payout ratio is presently 62.61%.

In related news, EVP Olivier Puech sold 320 shares of the stock in a transaction dated Friday, January 8th. The shares were sold at an average price of $220.00, for a total transaction of $70,400.00. Following the completion of the transaction, the executive vice president now owns 17,146 shares in the company, valued at $3,772,120. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Robert Joseph Meyer, Jr. sold 1,100 shares of the stock in a transaction dated Thursday, December 10th. The shares were sold at an average price of $220.21, for a total transaction of $242,231.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,948 shares of company stock valued at $1,119,029. Company insiders own 0.65% of the company’s stock.

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 approximately 181,000 communications sites.

Recommended Story: Basic Economics

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (REIT) (NYSE:AMT).

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.