Great Valley Advisor Group Inc. Has $7.52 Million Stock Position in American Tower Co. (NYSE:AMT)

Great Valley Advisor Group Inc. raised its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,975 shares of the real estate investment trust's stock after buying an additional 3,131 shares during the quarter. Great Valley Advisor Group Inc.'s holdings in American Tower were worth $7,515,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Partners Group Holding AG boosted its stake in shares of American Tower by 8.3% during the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock valued at $69,438,000 after acquiring an additional 28,988 shares during the last quarter. TigerOak Management L.L.C. acquired a new stake in shares of American Tower during the 4th quarter worth about $1,102,000. Aviva PLC boosted its stake in shares of American Tower by 13.4% during the 4th quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock worth $71,252,000 after purchasing an additional 46,009 shares during the last quarter. LGT Group Foundation boosted its position in American Tower by 16.9% during the fourth quarter. LGT Group Foundation now owns 42,608 shares of the real estate investment trust's stock worth $7,815,000 after acquiring an additional 6,165 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in American Tower during the fourth quarter worth approximately $193,246,000. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Price Performance

Shares of NYSE AMT traded up $1.06 during midday trading on Friday, reaching $214.77. The company's stock had a trading volume of 5,861,516 shares, compared to its average volume of 2,505,441. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a 50 day moving average price of $215.21 and a 200 day moving average price of $202.25. American Tower Co. has a one year low of $172.51 and a one year high of $243.56. The company has a market cap of $100.54 billion, a price-to-earnings ratio of 90.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.34. The company had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm's revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 earnings per share. On average, equities research analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.70 per share. The ex-dividend date is Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.17%. American Tower's payout ratio is presently 174.81%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AMT shares. Wells Fargo & Company raised 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. Citigroup upped their price target on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Scotiabank increased their price target on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Finally, BMO Capital Markets increased 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 analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $240.25.

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.