Sei Investments Co. Buys 62,359 Shares of American Tower Co. (NYSE:AMT)

Sei Investments Co. boosted its stake in American Tower Co. (NYSE:AMT) by 6.7% during the 4th quarter, HoldingsChannel reports. The fund owned 995,008 shares of the real estate investment trust’s stock after acquiring an additional 62,359 shares during the quarter. Sei Investments Co.’s holdings in American Tower were worth $182,494,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AMT. Roxbury Financial LLC bought a new stake in American Tower in the 4th quarter valued at $32,000. Legacy Investment Solutions LLC acquired a new stake in American Tower in the 3rd quarter valued at $34,000. Bank of Jackson Hole Trust acquired a new stake in American Tower in the 4th quarter valued at $46,000. Versant Capital Management Inc increased its stake in American Tower by 113.9% in the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 139 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in American Tower in the 4th quarter valued at $48,000. 92.69% of the stock is owned by institutional investors.

American Tower Stock Up 1.0 %

Shares of AMT opened at $216.41 on Friday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The firm has a market cap of $101.16 billion, a P/E ratio of 91.31, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The firm’s 50-day simple moving average is $195.99 and its 200 day simple moving average is $205.61. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the business earned $2.29 EPS. American Tower’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.14%. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is currently 141.37%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMT. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Barclays lifted their price target on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday. Mizuho lowered their price objective 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 shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Finally, Citigroup boosted their price objective on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower has a consensus rating of “Buy” and a consensus target price of $229.43.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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.