Delta Investment Management LLC lifted its stake in American Tower Co. (NYSE:AMT - Free Report) by 49.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,217 shares of the real estate investment trust's stock after acquiring an additional 1,392 shares during the quarter. Delta Investment Management LLC's holdings in American Tower were worth $773,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of AMT. Minot DeBlois Advisors LLC bought a new position in shares of American Tower in the fourth quarter valued at $29,000. Roxbury Financial LLC bought a new position in shares of American Tower in the 4th quarter valued at about $32,000. Graney & King LLC acquired a new position in shares of American Tower during the 4th quarter worth about $32,000. Crowley Wealth Management Inc. acquired a new stake in American Tower in the 4th quarter valued at about $37,000. Finally, Bank of Jackson Hole Trust acquired a new stake in American Tower in the 4th quarter valued at about $46,000. Institutional investors own 92.69% of the company's stock.
Analysts Set New Price Targets
AMT has been the subject of a number of recent analyst reports. Barclays raised their price objective on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Raymond James raised their price objective 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. Morgan Stanley began coverage on American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price on the stock. Bank of America began coverage on shares of American Tower in a research note on Monday. They issued a "buy" rating and a $255.00 price target on the stock. Finally, Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $240.25.
Check Out Our Latest Stock Analysis on AMT
American Tower Price Performance
Shares of NYSE:AMT opened at $215.11 on Tuesday. The firm has a market cap of $100.70 billion, a PE ratio of 90.76, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. American Tower Co. has a 52 week low of $172.51 and a 52 week high of $243.56. The firm's fifty day moving average is $215.11 and its 200-day moving average is $201.49. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.
American Tower (NYSE:AMT - Get Free Report) last issued its quarterly 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. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter in the prior year, the firm posted $2.79 earnings per share. The business's quarterly revenue was down 9.6% on a year-over-year basis. Sell-side analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.
American Tower Dividend Announcement
The business also recently disclosed 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 annualized dividend and a dividend yield of 3.16%. American Tower's dividend payout ratio is currently 174.81%.
About American Tower
(
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.
See Also
Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (NYSE:AMT - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider American Tower, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and American Tower wasn't on the list.
While American Tower currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
