American Tower Co. (NYSE:AMT) Shares Acquired by Focus Partners Wealth

Focus Partners Wealth grew its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 272,811 shares of the real estate investment trust's stock after acquiring an additional 10,998 shares during the period. Focus Partners Wealth owned about 0.06% of American Tower worth $52,720,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in American Tower during the 4th quarter valued at $1,164,851,000. Cohen & Steers Inc. lifted its position in shares of American Tower by 21.8% in the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock valued at $3,516,890,000 after acquiring an additional 3,437,602 shares in the last quarter. Capital Research Global Investors increased its position in American Tower by 66.5% during the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after purchasing an additional 3,421,413 shares in the last quarter. Capital World Investors lifted its holdings in American Tower by 160.6% in the 4th quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust's stock valued at $902,396,000 after purchasing an additional 3,032,005 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of American Tower during the 4th quarter worth about $193,246,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on AMT shares. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Barclays increased their price target on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Hsbc Global Res raised American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. UBS Group raised their price target on American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, JMP Securities upped their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research note on Wednesday, April 30th. Two investment 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 company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $239.27.

American Tower Trading Up 0.5%

Shares of AMT stock traded up $0.96 during mid-day trading on Friday, reaching $212.64. The company's stock had a trading volume of 1,097,077 shares, compared to its average volume of 2,503,396. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $99.54 billion, a PE ratio of 89.74, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The company's 50 day simple moving average is $214.87 and its 200-day simple moving average is $201.63. 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 quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating 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 company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the company posted $2.79 earnings per share. The firm's revenue was down 9.6% compared to the same quarter last year. On average, research analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.20%. American Tower's dividend payout ratio (DPR) 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.