Ethic Inc. lifted its stake in American Tower Co. (NYSE:AMT - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,294 shares of the real estate investment trust's stock after buying an additional 2,123 shares during the period. Ethic Inc.'s holdings in American Tower were worth $8,674,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Partners Group Holding AG boosted its stake in shares of American Tower by 8.3% in the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock valued at $69,438,000 after buying an additional 28,988 shares during the period. TigerOak Management L.L.C. bought a new stake in American Tower during the fourth quarter worth $1,102,000. Brookstone Capital Management lifted its stake in American Tower by 29.0% during the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock worth $1,629,000 after purchasing an additional 1,995 shares during the last quarter. Aviva PLC lifted its stake in American Tower by 13.4% during the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock worth $71,252,000 after purchasing an additional 46,009 shares during the last quarter. Finally, CCLA Investment Management lifted its stake in American Tower by 5.5% during the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust's stock worth $79,344,000 after purchasing an additional 22,523 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.
American Tower Trading Down 5.5%
NYSE AMT traded down $12.16 on Monday, reaching $207.81. The company had a trading volume of 4,450,799 shares, compared to its average volume of 2,488,669. The firm has a market cap of $97.14 billion, a price-to-earnings ratio of 87.68, a P/E/G ratio of 1.29 and a beta of 0.86. American Tower Co. has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The business has a 50 day moving average of $215.11 and a two-hundred day moving average of $201.66. 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 posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower's quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.79 earnings per share. Analysts forecast that American Tower Co. will post 10.14 EPS for the current year.
American Tower Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, April 11th were issued a dividend of $1.70 per share. This is an increase from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Friday, April 11th. American Tower's dividend payout ratio (DPR) is presently 174.81%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on AMT. UBS Group upped their target price on American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Wells Fargo & Company increased their price target on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Citigroup increased their price target on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Finally, Morgan Stanley began coverage on American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price target for the company. 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. According to data from MarketBeat, American Tower presently has a consensus rating of "Buy" and a consensus price target of $239.27.
Read Our Latest Report on American Tower
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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