OMERS ADMINISTRATION Corp Boosts Holdings in American Tower Co. (NYSE:AMT)

OMERS ADMINISTRATION Corp lifted its position in American Tower Co. (NYSE:AMT - Free Report) by 20.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,001 shares of the real estate investment trust's stock after purchasing an additional 3,423 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in American Tower were worth $3,668,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Minot DeBlois Advisors LLC purchased a new stake in American Tower during the 4th quarter valued at about $29,000. Roxbury Financial LLC purchased a new stake in American Tower during the 4th quarter valued at about $32,000. Graney & King LLC purchased a new stake in American Tower during the 4th quarter valued at about $32,000. Crowley Wealth Management Inc. purchased a new stake in American Tower during the 4th quarter valued at about $37,000. Finally, Bank of Jackson Hole Trust purchased a new stake in American Tower during the 4th quarter valued at about $46,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMT has been the subject of several analyst reports. BMO Capital Markets increased their target price on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Wells Fargo & Company increased their target price on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a report on Monday, January 27th. Royal Bank of Canada increased their price objective on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, American Tower presently has a consensus rating of "Buy" and an average price target of $239.27.

American Tower Stock Up 0.7%

Shares of AMT traded up $1.56 on Friday, reaching $213.24. The stock had a trading volume of 2,812,703 shares, compared to its average volume of 2,511,007. The firm has a market capitalization of $99.83 billion, a price-to-earnings ratio of 89.97, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a 50-day simple moving average of $214.94 and a 200-day simple moving average of $201.55. American Tower Co. has a 12-month low of $172.51 and a 12-month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.79 EPS. Sell-side analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Friday, June 13th. American Tower's payout ratio is presently 174.81%.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.