American Tower Co. (NYSE:AMT) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC raised its position in American Tower Co. (NYSE:AMT - Free Report) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,000 shares of the real estate investment trust's stock after purchasing an additional 2,366 shares during the quarter. ProShare Advisors LLC's holdings in American Tower were worth $22,009,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Cohen & Steers Inc. raised its stake in American Tower by 21.8% during the 4th 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. Geode Capital Management LLC grew its stake in shares of American Tower by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock worth $2,074,956,000 after purchasing an additional 129,192 shares in the last quarter. FMR LLC increased its holdings in shares of American Tower by 5.0% during the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock valued at $2,050,390,000 after purchasing an additional 537,136 shares during the period. Capital Research Global Investors raised its stake in shares of American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock valued at $1,570,547,000 after purchasing an additional 3,421,413 shares in the last quarter. Finally, Norges Bank acquired a new stake in American Tower in the fourth quarter worth about $1,164,851,000. Institutional investors own 92.69% of the company's stock.

American Tower Stock Up 0.7%

AMT stock opened at $213.24 on Friday. American Tower Co. has a 12 month low of $172.51 and a 12 month high of $243.56. The firm has a market cap of $99.83 billion, a PE ratio of 89.97, a P/E/G ratio of 1.29 and a beta of 0.86. The firm has a 50 day simple moving average of $214.94 and a 200 day simple moving average of $201.63. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

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 the consensus estimate of $2.41 by $0.34. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business's quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.79 earnings per share. Equities research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company 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 $1.70 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.19%. American Tower's dividend payout ratio (DPR) is presently 174.81%.

Analyst Ratings Changes

Several equities analysts have commented on AMT shares. JMP Securities raised their target price 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. Wells Fargo & Company increased their price objective on shares of American Tower from $230.00 to $240.00 and gave the company an "overweight" 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. Royal Bank of Canada upped their target price on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Two 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. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $239.27.

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.

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