ING Groep NV Buys 27,097 Shares of American Tower Co. (NYSE:AMT)

ING Groep NV grew its stake in American Tower Co. (NYSE:AMTFree Report) by 48.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,019 shares of the real estate investment trust’s stock after purchasing an additional 27,097 shares during the period. ING Groep NV’s holdings in American Tower were worth $17,922,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. McClarren Financial Advisors Inc. acquired a new position in American Tower in the 3rd quarter valued at approximately $27,000. Thompson Investment Management Inc. acquired a new position in shares of American Tower in the fourth quarter valued at $29,000. Private Wealth Management Group LLC bought a new position in American Tower in the fourth quarter worth $31,000. Brown Shipley& Co Ltd acquired a new stake in American Tower during the third quarter worth $35,000. Finally, Valley National Advisers Inc. increased its holdings in American Tower by 200.0% in the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 118 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the transaction, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robert D. Hormats sold 700 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the transaction, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,264 shares of company stock worth $3,458,757. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AMT shares. JPMorgan Chase & Co. decreased their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Barclays lifted their target price on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Mizuho started coverage on shares of American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 target price on the stock. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Morgan Stanley lifted their target price on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.91.

Check Out Our Latest Report on American Tower

American Tower Price Performance

NYSE:AMT traded down $0.43 on Friday, reaching $194.51. The stock had a trading volume of 2,157,303 shares, compared to its average volume of 2,638,604. The company has a market capitalization of $90.83 billion, a P/E ratio of 44.01, a price-to-earnings-growth ratio of 1.54 and a beta of 0.71. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The stock has a fifty day moving average price of $186.50 and a 200-day moving average price of $195.98.

American Tower (NYSE:AMTGet Free Report) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the previous year, the company posted $2.54 earnings per share. American Tower’s revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts forecast that American Tower Co. will post 9.96 EPS for the current year.

American Tower Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a dividend of $1.62 per share. The ex-dividend date was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.33%. American Tower’s payout ratio is 146.61%.

About American Tower

(Free Report)

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.

See Also

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

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