Sei Investments Co. Acquires 204,727 Shares of American Tower Co. (NYSE:AMT)

Sei Investments Co. lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 29.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 898,633 shares of the real estate investment trust’s stock after purchasing an additional 204,727 shares during the period. Sei Investments Co. owned about 0.19% of American Tower worth $174,282,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AMT. Pinnacle Holdings LLC purchased a new stake in American Tower during the 1st quarter valued at $29,000. Eagle Bay Advisors LLC purchased a new stake in American Tower during the 2nd quarter valued at $30,000. VitalStone Financial LLC purchased a new stake in American Tower during the 1st quarter valued at $38,000. MV Capital Management Inc. boosted its position in American Tower by 75.3% during the 2nd quarter. MV Capital Management Inc. now owns 135 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 58 shares during the period. Finally, Riverview Trust Co purchased a new stake in American Tower during the 2nd quarter valued at $27,000. Institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. StockNews.com began coverage on shares of American Tower in a research report on Thursday, October 5th. They set a “hold” rating for the company. Raymond James dropped their target price on shares of American Tower from $211.00 to $205.00 and set an “outperform” rating for the company in a research report on Tuesday, August 22nd. Wells Fargo & Company dropped their target price on shares of American Tower from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. Barclays dropped their target price on shares of American Tower from $233.00 to $228.00 and set an “overweight” rating for the company in a research report on Monday, August 7th. Finally, Royal Bank of Canada dropped their target price on shares of American Tower from $233.00 to $230.00 and set an “outperform” rating for the company in a research report on Tuesday, August 1st. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $228.60.

American Tower Stock Down 0.9 %

NYSE:AMT traded down $1.89 on Tuesday, reaching $197.75. 671,394 shares of the stock traded hands, compared to its average volume of 2,124,659. The company has a market capitalization of $92.18 billion, a price-to-earnings ratio of 130.48, a PEG ratio of 1.70 and a beta of 0.63. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 3.15. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $235.57. The company’s fifty day simple moving average is $173.23 and its 200 day simple moving average is $182.69.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Wednesday, October 11th were paid a dividend of $1.62 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.57. This represents a $6.48 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Tuesday, October 10th. American Tower’s dividend payout ratio (DPR) is currently 423.53%.

About American Tower

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 nearly 225,000 communications sites and a highly interconnected footprint of U.S. data center facilities.