Slow Capital Inc. Boosts Stock Position in American Tower Co. (NYSE:AMT)

Slow Capital Inc. increased its position in shares of American Tower Co. (NYSE:AMT) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,417 shares of the real estate investment trust’s stock after purchasing an additional 239 shares during the quarter. Slow Capital Inc.’s holdings in American Tower were worth $2,654,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AMT. FMR LLC boosted its holdings in shares of American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after acquiring an additional 2,152,646 shares during the last quarter. Adelante Capital Management LLC boosted its holdings in American Tower by 2,723.4% in the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after purchasing an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in shares of American Tower by 23,224.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after buying an additional 993,061 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of American Tower by 22,242.7% in the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after buying an additional 775,379 shares during the period. Finally, State Street Corp boosted its stake in shares of American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after buying an additional 635,726 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 3.7 %

NYSE:AMT opened at $192.01 on Tuesday. The company has a market capitalization of $89.72 billion, a PE ratio of 81.01, a P/E/G ratio of 1.24 and a beta of 0.84. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock’s 50 day moving average price is $192.08 and its 200 day moving average price is $211.24. 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 announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.58 earnings per share. On average, research analysts anticipate that American Tower Co. will post 10.15 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.37%. American Tower’s payout ratio is 273.42%.

Analyst Ratings Changes

A number of research analysts have issued reports on AMT shares. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Scotiabank dropped their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Mizuho lowered 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 note on Wednesday, January 8th. JMP Securities assumed coverage on American Tower in a report on Monday. They issued an “outperform” rating and a $225.00 price target for the company. Finally, Barclays reduced their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $226.31.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the 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 completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

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.