Securian Asset Management Inc Grows Stake in American Tower Corp (NYSE:AMT)

Securian Asset Management Inc boosted its holdings in American Tower Corp (NYSE:AMT) by 0.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 46,222 shares of the real estate investment trust’s stock after buying an additional 422 shares during the period. Securian Asset Management Inc’s holdings in American Tower were worth $9,109,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AMT. Oregon Public Employees Retirement Fund grew its position in shares of American Tower by 15,525.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,579,832 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 7,531,324 shares in the last quarter. FMR LLC lifted its holdings in shares of American Tower by 32.6% in the 4th quarter. FMR LLC now owns 20,144,710 shares of the real estate investment trust’s stock valued at $3,186,692,000 after acquiring an additional 4,949,323 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of American Tower by 6.7% in the 3rd quarter. Vanguard Group Inc now owns 56,635,438 shares of the real estate investment trust’s stock valued at $8,229,130,000 after acquiring an additional 3,579,249 shares during the last quarter. Norges Bank bought a new position in shares of American Tower in the 4th quarter valued at about $546,909,000. Finally, Jennison Associates LLC lifted its holdings in shares of American Tower by 203.6% in the 4th quarter. Jennison Associates LLC now owns 2,881,240 shares of the real estate investment trust’s stock valued at $455,783,000 after acquiring an additional 1,932,136 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Shares of American Tower stock traded up $2.50 on Wednesday, hitting $200.67. 904,879 shares of the company traded hands, compared to its average volume of 1,757,085. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.50 and a current ratio of 0.50. American Tower Corp has a 52 week low of $134.87 and a 52 week high of $203.38. The company has a market capitalization of $89.48 billion, a PE ratio of 25.12, a P/E/G ratio of 1.65 and a beta of 0.66.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.04. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. American Tower had a net margin of 17.95% and a return on equity of 22.61%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. On average, analysts forecast that American Tower Corp will post 7.51 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, June 19th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.83%. This is a positive change from American Tower’s previous quarterly dividend of $0.90. American Tower’s dividend payout ratio (DPR) is presently 45.06%.

In related news, CEO James D. Taiclet, Jr. sold 11,863 shares of American Tower stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $195.88, for a total transaction of $2,323,724.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joann A. Reed sold 1,538 shares of American Tower stock in a transaction on Friday, March 1st. The stock was sold at an average price of $175.61, for a total transaction of $270,088.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 215,986 shares of company stock worth $41,954,910. 0.75% of the stock is currently owned by corporate insiders.

A number of research analysts recently commented on the stock. KeyCorp increased their price target on shares of American Tower from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, February 12th. Royal Bank of Canada increased their price target on shares of American Tower from $195.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. SunTrust Banks increased their price target on shares of American Tower to $210.00 and gave the company a “positive” rating in a report on Monday, May 6th. Morgan Stanley raised their price objective on shares of American Tower from $185.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Edward Jones downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $181.44.

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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 171,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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