IFM Investors Pty Ltd Has $33.74 Million Stake in American Tower Corporation (NYSE:AMT)

IFM Investors Pty Ltd lifted its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,079 shares of the real estate investment trust's stock after purchasing an additional 8,263 shares during the quarter. IFM Investors Pty Ltd's holdings in American Tower were worth $33,740,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cohen & Steers Inc. raised its stake in shares of American Tower by 21.8% during the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock valued at $3,516,890,000 after purchasing an additional 3,437,602 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of American Tower by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock valued at $2,074,956,000 after purchasing an additional 129,192 shares in the last quarter. FMR LLC raised its stake in shares of American Tower by 5.0% during the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock valued at $2,050,390,000 after purchasing an additional 537,136 shares in the last quarter. Capital Research Global Investors raised its stake in shares of American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock valued at $1,570,547,000 after purchasing an additional 3,421,413 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of American Tower during the fourth quarter valued at about $1,164,851,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Down 0.5%

NYSE:AMT traded down $1.09 on Friday, hitting $221.75. 1,369,114 shares of the company's stock traded hands, compared to its average volume of 2,501,757. 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 Corporation has a 1 year low of $172.51 and a 1 year high of $243.56. The firm has a 50-day moving average price of $216.46 and a 200-day moving average price of $204.75. The company has a market cap of $103.81 billion, a PE ratio of 57.00, a price-to-earnings-growth ratio of 1.65 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last released its 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 30.20% and a net margin of 17.34%. The company had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter in the previous year, the business posted $2.79 EPS. The business's revenue for the quarter was down 9.6% on a year-over-year basis. Equities analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be paid 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 yield of 3.07%. American Tower's dividend payout ratio (DPR) is presently 174.81%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. JMP Securities lifted their target price on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 30th. Wells Fargo & Company boosted their price target 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. Morgan Stanley assumed coverage on shares of American Tower in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price target on the stock. Scotiabank boosted their price target on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. Finally, Royal Bank Of Canada boosted their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Two investment 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 company. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $240.25.

American Tower Company 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.