Handelsbanken Fonder AB Has $46.68 Million Position in American Tower Co. (NYSE:AMT)

Handelsbanken Fonder AB grew its stake in American Tower Co. (NYSE:AMT) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 200,713 shares of the real estate investment trust’s stock after buying an additional 3,418 shares during the period. Handelsbanken Fonder AB’s holdings in American Tower were worth $46,678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AMT. NBT Bank N A NY grew its holdings in American Tower by 3.3% during the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after acquiring an additional 54 shares during the period. O Brien Greene & Co. Inc grew its stake in American Tower by 2.3% during the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 55 shares during the period. CFO4Life Group LLC increased its holdings in American Tower by 5.4% in the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 57 shares in the last quarter. Tyche Wealth Partners LLC lifted its stake in American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 58 shares during the period. Finally, Advisors Management Group Inc. ADV boosted its holdings in shares of American Tower by 4.6% during the 1st quarter. Advisors Management Group Inc. ADV now owns 1,347 shares of the real estate investment trust’s stock worth $266,000 after buying an additional 59 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Down 2.5 %

American Tower stock traded down $5.62 during trading on Friday, hitting $223.66. 1,942,688 shares of the company were exchanged, compared to its average volume of 2,231,376. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The business’s 50 day moving average is $228.88 and its 200 day moving average is $204.51. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $243.56. The company has a market capitalization of $104.44 billion, a P/E ratio of 50.60, a PEG ratio of 1.06 and a beta of 0.83.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the company earned $2.46 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts predict that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.90%. American Tower’s payout ratio is presently 146.61%.

Insider Activity

In related news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction on 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 sale, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the sale, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on 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 directly owns 51,746 shares in the company, valued at $12,070,789.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 over the last three months. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AMT. The Goldman Sachs Group began coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective for the company. TD Cowen lifted their price target on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their price objective on shares of American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank boosted their target price on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $234.00.

American Tower Company 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.