NN Investment Partners Holdings N.V. boosted its holdings in American Tower Co. (REIT) (NYSE:AMT) by 0.3% during the first quarter, HoldingsChannel reports. The fund owned 232,118 shares of the real estate investment trust’s stock after buying an additional 780 shares during the period. NN Investment Partners Holdings N.V.’s holdings in American Tower were worth $55,491,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. RWM Asset Management LLC purchased a new stake in shares of American Tower during the fourth quarter worth $25,000. McClarren Financial Advisors Inc. purchased a new position in American Tower in the fourth quarter valued at about $26,000. Northwest Investment Counselors LLC purchased a new position in American Tower in the first quarter valued at about $27,000. ForthRight Wealth Management LLC purchased a new position in American Tower in the fourth quarter valued at about $28,000. Finally, Vantage Consulting Group Inc purchased a new position in American Tower in the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 89.97% of the company’s stock.
In other American Tower news, EVP Olivier Puech sold 3,268 shares of American Tower stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $220.00, for a total value of $718,960.00. Following the transaction, the executive vice president now owns 19,531 shares in the company, valued at approximately $4,296,820. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.65% of the stock is currently owned by insiders.
American Tower (NYSE:AMT) last posted its quarterly earnings results on Wednesday, April 28th. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.25 by ($0.80). American Tower had a net margin of 24.08% and a return on equity of 42.42%. Research analysts expect that American Tower Co. will post 8.16 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 29th. Shareholders of record on Tuesday, April 13th were paid a $1.24 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.21. This represents a $4.96 annualized dividend and a yield of 1.99%. The ex-dividend date was Monday, April 12th. American Tower’s payout ratio is presently 64.17%.
AMT has been the subject of a number of recent research reports. Wolfe Research initiated coverage on shares of American Tower in a research note on Thursday, March 18th. They set an “outperform” rating for the company. Credit Suisse Group raised their price objective on shares of American Tower from $296.00 to $297.00 and gave the stock an “outperform” rating in a research note on Friday. Morgan Stanley lifted their target price on shares of American Tower from $248.00 to $262.00 and gave the stock an “equal weight” rating in a research note on Monday, April 26th. Wells Fargo & Company upped their price target on shares of American Tower from $245.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Raymond James raised their price objective on shares of American Tower from $244.00 to $261.00 and gave the company an “outperform” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $273.33.
American Tower 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 approximately 181,000 communications sites.
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