Jericho Financial LLP Has $3.04 Million Holdings in American Tower Corporation (NYSE:AMT)

Jericho Financial LLP grew its stake in American Tower Corporation (NYSE:AMT - Free Report) by 20.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,962 shares of the real estate investment trust's stock after acquiring an additional 2,344 shares during the quarter. American Tower comprises approximately 2.2% of Jericho Financial LLP's portfolio, making the stock its 26th biggest holding. Jericho Financial LLP's holdings in American Tower were worth $3,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of AMT. Brighton Jones LLC increased its stake in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after acquiring an additional 2,104 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of American Tower by 108.0% in the 4th quarter. Venturi Wealth Management LLC now owns 337 shares of the real estate investment trust's stock valued at $62,000 after purchasing an additional 175 shares in the last quarter. Sigma Planning Corp increased its position in shares of American Tower by 7.5% in the 4th quarter. Sigma Planning Corp now owns 7,363 shares of the real estate investment trust's stock worth $1,350,000 after purchasing an additional 514 shares during the last quarter. Fisher Funds Management LTD acquired a new stake in American Tower during the fourth quarter valued at approximately $58,905,000. Finally, Howard Capital Management Inc. raised its position in shares of American Tower by 2.1% during the 4th quarter. Howard Capital Management Inc. now owns 8,782 shares of the real estate investment trust's stock valued at $1,611,000 after acquiring an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AMT shares. Morgan Stanley began coverage on American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price for the company. BMO Capital Markets upped their price target on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Royal Bank Of Canada lifted their target price on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. UBS Group upped their price target on shares of American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Raymond James Financial increased their target price on American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $240.25.

American Tower Stock Performance

NYSE:AMT traded up $4.23 during mid-day trading on Monday, hitting $221.71. 2,566,353 shares of the company's stock traded hands, compared to its average volume of 2,492,572. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The firm has a 50 day moving average of $215.65 and a two-hundred day moving average of $203.30. The firm has a market capitalization of $103.79 billion, a price-to-earnings ratio of 57.00, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the firm earned $2.79 EPS. The firm's revenue for the quarter was down 9.6% compared to the same quarter last year. On average, equities analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be given a $1.70 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.07%. American Tower's dividend payout ratio (DPR) is presently 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.