Louisiana State Employees Retirement System boosted its holdings in shares of American Tower Corp (NYSE:AMT) by 0.9% in the first quarter, HoldingsChannel.com reports. The firm owned 23,300 shares of the real estate investment trust’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in American Tower were worth $4,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. CI Investments Inc. grew its position in American Tower by 9.3% during the third quarter. CI Investments Inc. now owns 172,954 shares of the real estate investment trust’s stock worth $25,130,000 after buying an additional 14,754 shares in the last quarter. LPL Financial LLC increased its holdings in American Tower by 1.3% during the 3rd quarter. LPL Financial LLC now owns 47,464 shares of the real estate investment trust’s stock valued at $6,896,000 after purchasing an additional 631 shares during the period. Vident Investment Advisory LLC increased its holdings in American Tower by 162.7% during the 3rd quarter. Vident Investment Advisory LLC now owns 6,801 shares of the real estate investment trust’s stock valued at $988,000 after purchasing an additional 4,212 shares during the period. Point72 Hong Kong Ltd purchased a new position in American Tower during the 3rd quarter valued at about $142,000. Finally, Advisors Asset Management Inc. increased its holdings in American Tower by 5.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 159,074 shares of the real estate investment trust’s stock valued at $23,113,000 after purchasing an additional 8,634 shares during the period. Institutional investors own 94.75% of the company’s stock.

Shares of AMT stock traded down $2.78 during midday trading on Monday, reaching $195.18. 31,895 shares of the stock were exchanged, compared to its average volume of 2,088,515. American Tower Corp has a 1 year low of $133.53 and a 1 year high of $198.19. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market capitalization of $86.75 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 1.66 and a beta of 0.68.

American Tower (NYSE:AMT) last posted its earnings results on Wednesday, February 27th. The real estate investment trust reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($1.63). American Tower had a return on equity of 19.86% and a net margin of 16.62%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the company posted $0.51 EPS. The firm’s revenue was up 25.0% on a year-over-year basis. Sell-side analysts forecast that American Tower Corp will post 7.53 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Thursday, April 11th will be issued a dividend of $0.90 per share. This is an increase from American Tower’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.84%. American Tower’s dividend payout ratio is 45.06%.

AMT has been the topic of a number of research analyst reports. KeyCorp boosted their price target on American Tower from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, February 12th. Oppenheimer restated a “market perform” rating and set a $173.00 price target on shares of American Tower in a report on Thursday, February 28th. They noted that the move was a valuation call. Wells Fargo & Co boosted their price target on American Tower from $176.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, February 28th. Macquarie restated a “buy” rating and set a $210.00 price target on shares of American Tower in a report on Thursday, February 28th. Finally, CIBC restated a “market perform” rating on shares of American Tower in a report on Thursday, February 28th. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. American Tower currently has a consensus rating of “Hold” and a consensus price target of $177.25.

In related news, CFO Thomas A. Bartlett sold 51,203 shares of the company’s stock in a transaction that occurred on Friday, January 18th. The stock was sold at an average price of $165.00, for a total value of $8,448,495.00. Following the sale, the chief financial officer now owns 165,433 shares in the company, valued at approximately $27,296,445. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Amit Sharma sold 32,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $194.35, for a total value of $6,316,375.00. Following the completion of the sale, the executive vice president now owns 177,193 shares in the company, valued at approximately $34,437,459.55. The disclosure for this sale can be found here. Insiders have sold a total of 119,753 shares of company stock worth $21,218,220 in the last quarter. Company insiders own 0.87% of the company’s stock.

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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 over 170,000 communications sites.

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

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