Focus Partners Advisor Solutions LLC Raises Stake in American Tower Co. (NYSE:AMT)

Focus Partners Advisor Solutions LLC boosted its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 107.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,711 shares of the real estate investment trust's stock after acquiring an additional 1,406 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in American Tower were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Minot DeBlois Advisors LLC purchased a new position in American Tower during the fourth quarter worth about $29,000. Roxbury Financial LLC purchased a new position in shares of American Tower during the 4th quarter worth approximately $32,000. Graney & King LLC purchased a new position in shares of American Tower during the 4th quarter worth approximately $32,000. Crowley Wealth Management Inc. acquired a new stake in shares of American Tower in the 4th quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of American Tower in the fourth quarter valued at approximately $46,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on AMT shares. Bank of America started coverage on American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 target price for the company. BMO Capital Markets raised their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Wells Fargo & Company upped their target price on shares of American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Barclays increased their target price on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Finally, Scotiabank boosted their price target on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 30th. 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $240.25.

American Tower Price Performance

American Tower stock traded up $1.12 during mid-day trading on Thursday, hitting $213.58. 1,781,908 shares of the company were exchanged, compared to its average volume of 2,510,551. American Tower Co. has a 12-month low of $172.51 and a 12-month high of $243.56. The company has a market capitalization of $99.99 billion, a P/E ratio of 90.12, a PEG ratio of 1.29 and a beta of 0.86. The business's 50 day simple moving average is $215.09 and its two-hundred day simple moving average is $201.93. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT - Get Free Report) last posted 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 return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter last year, the business posted $2.79 EPS. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. Analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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