Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stock Holdings in American Tower Co. (NYSE:AMT)

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in American Tower Co. (NYSE:AMT) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,784 shares of the real estate investment trust’s stock after purchasing an additional 4,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in American Tower were worth $14,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of AMT. Balentine LLC purchased a new stake in shares of American Tower during the 3rd quarter valued at $586,000. Nordea Investment Management AB increased its stake in American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after acquiring an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in American Tower during the third quarter valued at about $1,156,000. TigerOak Management L.L.C. bought a new stake in American Tower during the fourth quarter worth about $1,102,000. Finally, Brookstone Capital Management boosted its holdings in shares of 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 currently owned by institutional investors.

American Tower Trading Down 0.5 %

NYSE AMT opened at $191.32 on Monday. The stock has a market cap of $89.40 billion, a P/E ratio of 80.73, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The stock has a 50 day simple moving average of $185.67 and a two-hundred day simple moving average of $207.36. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.39%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

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 dated 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AMT. Barclays decreased their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Citigroup decreased their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. The Goldman Sachs Group cut their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Mizuho decreased their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Scotiabank cut their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.79.

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.