EP Wealth Advisors LLC Purchases 5,720 Shares of American Tower Co. (NYSE:AMT)

EP Wealth Advisors LLC increased its position in American Tower Co. (NYSE:AMT - Free Report) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 332,640 shares of the real estate investment trust's stock after purchasing an additional 5,720 shares during the period. EP Wealth Advisors LLC owned 0.07% of American Tower worth $61,009,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMT. Glenview Trust co raised its stake in shares of American Tower by 0.8% during the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock worth $1,294,000 after purchasing an additional 54 shares in the last quarter. CreativeOne Wealth LLC raised its position in American Tower by 2.1% during the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock valued at $477,000 after acquiring an additional 54 shares in the last quarter. Precedent Wealth Partners LLC lifted its stake in American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock valued at $235,000 after acquiring an additional 58 shares during the last quarter. Resonant Capital Advisors LLC grew its position in American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock worth $206,000 after acquiring an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its stake in shares of American Tower by 2.9% during the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock worth $398,000 after purchasing an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMT. Morgan Stanley began coverage on shares of American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective for the company. JMP Securities increased their price objective on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. Scotiabank boosted their target price on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 30th. BMO Capital Markets increased their price target on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Finally, Wells Fargo & Company boosted their price objective on shares of American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, American Tower presently has an average rating of "Buy" and a consensus price target of $239.27.

American Tower Price Performance

Shares of NYSE AMT traded up $2.08 during trading on Friday, reaching $219.96. The company had a trading volume of 2,499,847 shares, compared to its average volume of 2,483,498. American Tower Co. has a 52 week low of $172.51 and a 52 week high of $243.56. 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 business's 50 day moving average price is $215.14 and its 200-day moving average price is $202.10. The stock has a market cap of $102.82 billion, a PE ratio of 92.81, a PEG ratio of 1.29 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results 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 net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter in the previous year, the company earned $2.79 EPS. American Tower's revenue was down 9.6% on a year-over-year basis. Analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, April 11th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Friday, April 11th. This is an increase from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio is currently 174.81%.

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