Fairview Capital Investment Management LLC Increases Holdings in American Tower Co. (NYSE:AMT)

Fairview Capital Investment Management LLC raised its holdings in American Tower Co. (NYSE:AMT - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 212,372 shares of the real estate investment trust's stock after buying an additional 4,684 shares during the quarter. American Tower accounts for 2.0% of Fairview Capital Investment Management LLC's investment portfolio, making the stock its 18th largest holding. Fairview Capital Investment Management LLC's holdings in American Tower were worth $38,951,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fiduciary Trust Co raised its position in American Tower by 1.5% in the 4th quarter. Fiduciary Trust Co now owns 60,607 shares of the real estate investment trust's stock valued at $11,116,000 after buying an additional 920 shares during the last quarter. First Manhattan CO. LLC. grew its stake in shares of American Tower by 9.1% during the 4th quarter. First Manhattan CO. LLC. now owns 210,268 shares of the real estate investment trust's stock worth $41,875,000 after acquiring an additional 17,524 shares during the period. FWL Investment Management LLC bought a new position in shares of American Tower during the 4th quarter worth $123,000. EP Wealth Advisors LLC grew its stake in shares of American Tower by 1.7% during the 4th quarter. EP Wealth Advisors LLC now owns 332,640 shares of the real estate investment trust's stock worth $61,009,000 after acquiring an additional 5,720 shares during the period. Finally, Cresset Asset Management LLC boosted its stake in American Tower by 29.2% in the 4th quarter. Cresset Asset Management LLC now owns 6,587 shares of the real estate investment trust's stock worth $1,213,000 after purchasing an additional 1,488 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Trading Down 5.5%

American Tower stock traded down $12.16 during trading hours 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 12-month low of $172.51 and a 12-month high of $243.56. The company has a 50-day moving average price of $215.14 and a 200 day moving average price of $201.77. 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 issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm 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 earned $2.79 EPS. The business's quarterly revenue was down 9.6% compared to the same quarter last year. Equities analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, April 11th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, April 11th. This is a positive change from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.27%. American Tower's payout ratio is currently 174.81%.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. Raymond James raised their target price 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. UBS Group raised 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. Scotiabank raised their price target on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Citigroup raised their price target on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a report on Monday, March 10th. Finally, Hsbc Global Res raised American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $239.27.

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.