Generali Asset Management SPA SGR Buys New Position in American Tower Co. (NYSE:AMT)

Generali Asset Management SPA SGR purchased a new stake in shares of American Tower Co. (NYSE:AMT) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 51,715 shares of the real estate investment trust’s stock, valued at approximately $9,485,000.

Several other large investors have also 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 worth $1,294,000 after purchasing an additional 54 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 58 shares in the last quarter. Precedent Wealth Partners LLC boosted its position in American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 58 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC boosted its position in American Tower by 2.9% during the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Citizens Jmp raised American Tower to a “strong-buy” rating in a report on Monday, January 27th. Citigroup increased their target price on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Barclays reduced their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Scotiabank reduced their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, American Tower presently has an average rating of “Buy” and a consensus price target of $228.79.

American Tower Trading Up 1.1 %

AMT opened at $213.17 on Tuesday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The business has a fifty day simple moving average of $192.99 and a 200-day simple moving average of $205.61. The firm has a market cap of $99.65 billion, a P/E ratio of 89.95, a P/E/G ratio of 1.29 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

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

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. 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 yield of 3.19%. American Tower’s dividend payout ratio (DPR) is 141.37%.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.