AXA S.A. decreased its position in American Tower Co. (NYSE:AMT - Free Report) by 35.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 307,380 shares of the real estate investment trust's stock after selling 170,229 shares during the period. AXA S.A. owned about 0.07% of American Tower worth $56,377,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Graney & King LLC acquired a new stake in American Tower during the 4th quarter worth about $32,000. Roxbury Financial LLC bought a new position in American Tower during the fourth quarter valued at approximately $32,000. Crowley Wealth Management Inc. acquired a new stake in American Tower in the fourth quarter valued at approximately $37,000. Bank of Jackson Hole Trust bought a new position in American Tower during the fourth quarter valued at about $46,000. Finally, Kestra Investment Management LLC bought a new stake in American Tower during the fourth quarter worth approximately $48,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.
American Tower Price Performance
Shares of AMT stock traded up $1.93 during trading hours on Friday, hitting $219.81. The company had a trading volume of 860,401 shares, compared to its average volume of 2,477,959. 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 firm has a market capitalization of $102.75 billion, a price-to-earnings ratio of 92.75, a PEG ratio of 1.29 and a beta of 0.86. American Tower Co. has a 12 month low of $172.51 and a 12 month high of $243.56. The firm's fifty day moving average is $214.88 and its 200 day moving average is $202.11.
American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share 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 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 earned $2.79 EPS. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. On average, sell-side analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.
American Tower Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, April 11th were issued a $1.70 dividend. This is an increase from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, April 11th. American Tower's payout ratio is presently 174.81%.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on AMT. BMO Capital Markets boosted their price objective on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. UBS Group upped their price target on shares of American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Raymond James lifted their price objective on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Finally, Citigroup lifted their price target on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $239.27.
View Our Latest Analysis on AMT
American Tower Profile
(
Free Report)
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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