Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 44,500 Shares of American Tower Corp (NYSE:AMT)

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of American Tower Corp (NYSE:AMT) by 58.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 120,625 shares of the real estate investment trust’s stock after acquiring an additional 44,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in American Tower were worth $26,266,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AMT. CXI Advisors bought a new position in American Tower in the fourth quarter worth approximately $27,000. MCF Advisors LLC purchased a new stake in shares of American Tower in the 1st quarter worth $27,000. Brooktree Capital Management purchased a new stake in shares of American Tower in the 4th quarter worth $29,000. John W. Brooker & Co. CPAs bought a new position in shares of American Tower during the 1st quarter worth $32,000. Finally, TI Trust Inc. purchased a new position in shares of American Tower during the fourth quarter valued at $34,000. 91.73% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Steven O. Vondran sold 1,229 shares of American Tower stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $205.81, for a total transaction of $252,940.49. Following the completion of the sale, the executive vice president now owns 27,469 shares of the company’s stock, valued at $5,653,394.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 6,439 shares of American Tower stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $238.11, for a total value of $1,533,190.29. Following the sale, the chief accounting officer now directly owns 37,120 shares of the company’s stock, valued at approximately $8,838,643.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,392 shares of company stock valued at $3,343,752. Corporate insiders own 0.65% of the company’s stock.

NYSE:AMT traded up $14.27 during mid-day trading on Friday, hitting $242.43. 2,812,237 shares of the company’s stock traded hands, compared to its average volume of 1,978,653. The company has a fifty day moving average of $239.56 and a 200 day moving average of $229.48. The company has a debt-to-equity ratio of 6.91, a quick ratio of 0.57 and a current ratio of 0.57. American Tower Corp has a twelve month low of $174.32 and a twelve month high of $260.43. The company has a market capitalization of $101.14 billion, a P/E ratio of 56.78, a P/E/G ratio of 1.94 and a beta of 0.44.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.12). The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. American Tower had a return on equity of 35.63% and a net margin of 24.55%. American Tower’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.84 EPS. On average, research analysts expect that American Tower Corp will post 8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 19th will be paid a dividend of $1.10 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, June 18th. This represents a $4.40 dividend on an annualized basis and a yield of 1.81%. American Tower’s dividend payout ratio is presently 55.89%.

AMT has been the topic of a number of research reports. Citigroup raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $280.00 target price on the stock in a research report on Thursday, March 5th. KeyCorp increased their price objective on shares of American Tower from $254.00 to $273.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating in a research note on Thursday, March 12th. Credit Suisse Group started coverage on American Tower in a report on Tuesday, April 28th. They set an “outperform” rating and a $308.00 target price for the company. Finally, Edward Jones upgraded American Tower from a “hold” rating to a “buy” rating in a report on Tuesday, March 24th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $257.38.

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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Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).

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

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