Fire Capital Management LLC Invests $652,000 in American Tower Co. (NYSE:AMT)

Fire Capital Management LLC acquired a new position in shares of American Tower Co. (NYSE:AMT - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,553 shares of the real estate investment trust's stock, valued at approximately $652,000.

Other institutional investors also recently added to or reduced their stakes in the company. Chancellor Financial Group WB LP purchased a new stake in shares of American Tower during the fourth quarter valued at about $444,000. 111 Capital bought a new position in shares of American Tower during the 4th quarter worth approximately $840,000. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of American Tower during the 4th quarter worth approximately $64,442,000. Capstone Triton Financial Group LLC lifted its position in American Tower by 1.2% during the fourth quarter. Capstone Triton Financial Group LLC now owns 6,715 shares of the real estate investment trust's stock valued at $1,232,000 after acquiring an additional 81 shares during the last quarter. Finally, Phocas Financial Corp. acquired a new stake in American Tower in the fourth quarter valued at approximately $349,000. Institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

AMT has been the topic of several recent analyst reports. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. JMP Securities raised their target price on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research note 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 price target on the stock. Citigroup increased their price objective on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Finally, BMO Capital Markets boosted their price objective on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $240.25.

American Tower Price Performance

Shares of American Tower stock traded down $1.82 on Monday, reaching $212.84. The company's stock had a trading volume of 540,158 shares, compared to its average volume of 2,497,729. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market capitalization of $99.64 billion, a P/E ratio of 89.88, a PEG ratio of 1.29 and a beta of 0.86. The stock has a 50-day moving average price of $215.21 and a 200-day moving average price of $202.30. American Tower Co. has a 52-week low of $172.51 and a 52-week high of $243.56.

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 EPS for the quarter, topping the consensus estimate of $2.41 by $0.34. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm's revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.79 EPS. Analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given 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 3.19%. 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.