Phocas Financial Corp. purchased a new stake in shares of American Tower Co. (NYSE:AMT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,905 shares of the real estate investment trust's stock, valued at approximately $349,000.
A number of other large investors have also made changes to their positions in the company. Probity Advisors Inc. increased its stake in American Tower by 4.6% in the 4th quarter. Probity Advisors Inc. now owns 2,090 shares of the real estate investment trust's stock valued at $383,000 after buying an additional 91 shares during the period. Copley Financial Group Inc. increased its stake in American Tower by 4.8% in the 4th quarter. Copley Financial Group Inc. now owns 2,182 shares of the real estate investment trust's stock valued at $400,000 after buying an additional 99 shares during the period. Siemens Fonds Invest GmbH increased its stake in American Tower by 7.3% in the 4th quarter. Siemens Fonds Invest GmbH now owns 21,425 shares of the real estate investment trust's stock valued at $3,898,000 after buying an additional 1,453 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in American Tower in the 4th quarter valued at approximately $88,356,000. Finally, ABLE Financial Group LLC increased its stake in American Tower by 9.8% in the 4th quarter. ABLE Financial Group LLC now owns 6,922 shares of the real estate investment trust's stock valued at $1,270,000 after buying an additional 618 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.
American Tower Stock Performance
AMT traded up $1.06 during trading on Friday, hitting $214.77. The stock had a trading volume of 5,861,516 shares, compared to its average volume of 2,524,747. The firm has a market cap of $100.54 billion, a PE ratio of 90.62, 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 current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a 50 day simple moving average of $215.21 and a 200-day simple moving average of $202.20.
American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping the consensus estimate of $2.41 by $0.34. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $2.79 EPS. Analysts expect that American Tower Co. will post 10.14 EPS for the current year.
American Tower Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be issued a $1.70 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.17%. American Tower's dividend payout ratio (DPR) is presently 174.81%.
Analyst Ratings Changes
Several research analysts have weighed in on AMT shares. Morgan Stanley began coverage on shares of American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective on the stock. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Barclays raised their price target on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Bank of America began coverage on shares of American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 price target on the stock. Finally, JMP Securities raised their price target on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, American Tower currently has a consensus rating of "Buy" and a consensus price target of $240.25.
Get Our Latest Stock 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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