Inspire Trust Co. N.A. Has $1.81 Million Stake in American Tower Co. (NYSE:AMT)

Inspire Trust Co. N.A. raised its stake in American Tower Co. (NYSE:AMT - Free Report) by 26.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,850 shares of the real estate investment trust's stock after purchasing an additional 2,050 shares during the quarter. Inspire Trust Co. N.A.'s holdings in American Tower were worth $1,807,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in American Tower during the fourth quarter worth $1,164,851,000. Cohen & Steers Inc. boosted its holdings in American Tower by 21.8% during the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after acquiring an additional 3,437,602 shares during the last quarter. Capital Research Global Investors grew its stake in shares of American Tower by 66.5% in the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after acquiring an additional 3,421,413 shares in the last quarter. Capital World Investors raised its holdings in shares of American Tower by 160.6% in the fourth quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust's stock valued at $902,396,000 after purchasing an additional 3,032,005 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of American Tower during the fourth quarter valued at about $193,246,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on AMT. Royal Bank of Canada boosted their price objective on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Raymond James lifted their target price on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. BMO Capital Markets increased their price target on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a report on Monday, January 27th. Finally, Scotiabank lifted their price objective 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. 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. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $240.25.

American Tower Stock Performance

NYSE AMT opened at $213.94 on Thursday. The company's 50 day moving average is $215.33 and its 200-day moving average is $201.67. The firm has a market cap of $100.15 billion, a P/E ratio of 90.27, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. American Tower Co. has a 12-month low of $172.51 and a 12-month high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.79 EPS. 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. Investors 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 dividend on an annualized basis and a yield of 3.18%. American Tower's dividend payout ratio (DPR) is 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.

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