Siemens Fonds Invest GmbH Purchases 1,453 Shares of American Tower Co. (NYSE:AMT)

Siemens Fonds Invest GmbH boosted its holdings in American Tower Co. (NYSE:AMT - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,425 shares of the real estate investment trust's stock after purchasing an additional 1,453 shares during the quarter. Siemens Fonds Invest GmbH's holdings in American Tower were worth $3,898,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMT. Glenview Trust co raised its position in American Tower by 0.8% during the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock worth $1,294,000 after buying an additional 54 shares during the last quarter. CreativeOne Wealth LLC grew its stake in American Tower by 2.1% in the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock valued at $477,000 after acquiring an additional 54 shares during the last quarter. Safe Harbor Fiduciary LLC grew its stake in American Tower by 1.1% in the 4th quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust's stock valued at $978,000 after acquiring an additional 58 shares during the last quarter. Resonant Capital Advisors LLC lifted its holdings in American Tower by 5.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock valued at $206,000 after purchasing an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC lifted its holdings in American Tower by 2.9% in the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock valued at $398,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Raymond James boosted their target price on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Scotiabank upped 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, Barclays upped their price objective on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $240.25.

American Tower Trading Up 0.5%

American Tower stock traded up $1.06 during midday trading on Friday, reaching $214.77. The stock had a trading volume of 5,861,516 shares, compared to its average volume of 2,505,441. The firm's fifty day simple moving average is $215.21 and its two-hundred day simple moving average is $202.30. American Tower Co. has a twelve month low of $172.51 and a twelve month high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $100.54 billion, a price-to-earnings ratio of 90.62, a PEG ratio of 1.29 and a beta of 0.86.

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

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.17%. American Tower's dividend payout ratio is currently 174.81%.

About American Tower

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.