American Tower Co. (NYSE:AMT) Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,443 shares of the real estate investment trust's stock after acquiring an additional 11,524 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in American Tower were worth $16,405,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Glenview Trust co raised its position in American Tower by 0.8% in the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock worth $1,294,000 after acquiring an additional 54 shares in the last quarter. CreativeOne Wealth LLC grew its stake in shares of American Tower by 2.1% in the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock worth $477,000 after purchasing an additional 54 shares during the last quarter. Precedent Wealth Partners LLC raised its holdings in shares of American Tower by 4.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock worth $235,000 after purchasing an additional 58 shares in the last quarter. Safe Harbor Fiduciary LLC raised its holdings in shares of American Tower by 1.1% in the 4th quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust's stock worth $978,000 after purchasing an additional 58 shares in the last quarter. Finally, Resonant Capital Advisors LLC lifted its stake in American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock valued at $206,000 after purchasing an additional 61 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AMT shares. UBS Group upped their price target on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Wells Fargo & Company lifted their target price on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. JMP Securities upped their target price on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. BMO Capital Markets increased their price target on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Finally, Citizens Jmp upgraded American Tower to a "strong-buy" rating in a report on Monday, January 27th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $240.25.

American Tower Price Performance

Shares of NYSE:AMT opened at $213.94 on Thursday. The firm has a market cap of $100.15 billion, a price-to-earnings ratio of 90.27, a P/E/G ratio of 1.29 and a beta of 0.86. American Tower Co. has a 1 year low of $172.51 and a 1 year 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 business has a fifty day simple moving average of $215.33 and a 200 day simple moving average of $201.67.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results 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. The company 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%. The business's quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the business earned $2.79 EPS. As a group, sell-side analysts predict that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.18%. American Tower's dividend payout ratio is currently 174.81%.

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.

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