American Tower Co. (NYSE:AMT) Position Boosted by Two Sigma Investments LP

Two Sigma Investments LP increased its position in American Tower Co. (NYSE:AMT - Free Report) by 480.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,636 shares of the real estate investment trust's stock after buying an additional 76,668 shares during the period. Two Sigma Investments LP's holdings in American Tower were worth $16,990,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AMT. Bill Few Associates Inc. raised its position in shares of American Tower by 2.0% in the fourth quarter. Bill Few Associates Inc. now owns 16,874 shares of the real estate investment trust's stock valued at $3,095,000 after buying an additional 335 shares during the last quarter. Donoghue Forlines LLC acquired a new position in American Tower during the fourth quarter worth approximately $1,478,000. Red Door Wealth Management LLC increased its position in American Tower by 6.7% during the fourth quarter. Red Door Wealth Management LLC now owns 18,792 shares of the real estate investment trust's stock worth $3,447,000 after purchasing an additional 1,186 shares during the last quarter. Verde Capital Management increased its position in American Tower by 2.7% during the fourth quarter. Verde Capital Management now owns 9,093 shares of the real estate investment trust's stock worth $1,668,000 after purchasing an additional 242 shares during the last quarter. Finally, Montecito Bank & Trust increased its position in American Tower by 44.1% during the fourth quarter. Montecito Bank & Trust now owns 1,301 shares of the real estate investment trust's stock worth $239,000 after purchasing an additional 398 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Down 1.1%

NYSE AMT traded down $2.44 during trading hours on Wednesday, hitting $211.27. The company had a trading volume of 421,569 shares, compared to its average volume of 2,505,508. The firm's 50 day moving average is $215.16 and its 200 day moving average is $201.86. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $98.90 billion, a price-to-earnings ratio of 89.07, 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.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating the consensus estimate 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 company's revenue was down 9.6% on a year-over-year basis. During the same period last year, the firm earned $2.79 earnings per share. Sell-side analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.22%. American Tower's dividend payout ratio is presently 174.81%.

Analyst Ratings Changes

AMT has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Bank of America initiated coverage on shares of American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 price target for the company. Scotiabank upped their price target on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. Raymond James upped their price target on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, BMO Capital Markets upped their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Two investment 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 stock. Based on data from MarketBeat, American Tower currently has an average rating of "Buy" and an average price target of $240.25.

About American Tower

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.