Point72 Asset Management L.P. Increases Stake in American Tower Co. (NYSE:AMT)

Point72 Asset Management L.P. boosted its position in American Tower Co. (NYSE:AMT - Free Report) by 192.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 653,045 shares of the real estate investment trust's stock after purchasing an additional 429,941 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.14% of American Tower worth $119,775,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AMT. Minot DeBlois Advisors LLC purchased a new stake in shares of American Tower during the fourth quarter worth about $29,000. Graney & King LLC purchased a new stake in shares of American Tower during the fourth quarter worth about $32,000. Roxbury Financial LLC purchased a new stake in shares of American Tower during the fourth quarter worth about $32,000. Crowley Wealth Management Inc. purchased a new stake in shares of American Tower during the fourth quarter worth about $37,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of American Tower during the fourth quarter worth about $46,000. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AMT shares. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. BMO Capital Markets upped their target price on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Scotiabank upped their target price on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Finally, JMP Securities upped their target price on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $239.27.

American Tower Stock Performance

American Tower stock traded up $1.56 during mid-day trading on Friday, hitting $213.24. The company had a trading volume of 2,812,703 shares, compared to its average volume of 2,511,007. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12-month low of $172.51 and a 12-month high of $243.56. The company's fifty day moving average is $214.94 and its 200-day moving average is $201.55. The company has a market capitalization of $99.83 billion, a price-to-earnings ratio of 89.97, a P/E/G ratio of 1.29 and a beta of 0.86.

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

American Tower Announces Dividend

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

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.