Skandinaviska Enskilda Banken AB publ Grows Position in American Tower Co. (NYSE:AMT)

Skandinaviska Enskilda Banken AB publ boosted its stake in American Tower Co. (NYSE:AMT) by 0.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 92,856 shares of the real estate investment trust’s stock after buying an additional 503 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in American Tower were worth $18,049,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower during the 1st quarter valued at $25,000. Cultivar Capital Inc. purchased a new stake in shares of American Tower during the 2nd quarter valued at $25,000. Gold Investment Management Ltd. purchased a new stake in shares of American Tower during the 4th quarter valued at $28,000. Hobbs Group Advisors LLC purchased a new stake in shares of American Tower during the 2nd quarter valued at $29,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in shares of American Tower during the 1st quarter valued at $30,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Mizuho raised their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Royal Bank of Canada increased their price target on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group began coverage on American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 price target for the company. Finally, Barclays cut their price target on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.29.

American Tower Stock Up 1.2 %

Shares of NYSE AMT opened at $235.16 on Friday. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $243.56. The business has a 50-day simple moving average of $224.57 and a two-hundred day simple moving average of $202.44. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The company has a market cap of $109.81 billion, a P/E ratio of 53.20, a P/E/G ratio of 1.60 and a beta of 0.83.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.46 EPS. Research analysts anticipate that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.76%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Insider Activity

In other news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the sale, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is currently owned by insiders.

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.