Tabor Asset Management LP acquired a new stake in shares of American Tower Corporation (NYSE:AMT - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 14,953 shares of the real estate investment trust's stock, valued at approximately $3,254,000.
A number of other institutional investors have also added to or reduced their stakes in AMT. Brighton Jones LLC lifted its holdings in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after purchasing an additional 2,104 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in American Tower during the 4th quarter worth about $235,000. Millstone Evans Group LLC purchased a new stake in American Tower during the 4th quarter worth about $129,000. Quantbot Technologies LP raised its holdings in shares of American Tower by 129.4% in the 4th quarter. Quantbot Technologies LP now owns 18,182 shares of the real estate investment trust's stock valued at $3,335,000 after acquiring an additional 10,256 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of American Tower in the 4th quarter valued at about $1,767,000. Hedge funds and other institutional investors own 92.69% of the company's stock.
Wall Street Analyst Weigh In
AMT has been the topic of a number of research reports. Raymond James Financial raised their price objective on American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Royal Bank Of Canada raised their price objective on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Bank of America initiated coverage on American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 price objective on the stock. UBS Group lifted their price target on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Scotiabank lifted 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 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $240.88.
Check Out Our Latest Stock Report on American Tower
American Tower Price Performance
NYSE AMT traded up $2.05 during trading on Monday, hitting $226.82. 81,140 shares of the stock traded hands, compared to its average volume of 2,497,820. The company has a market capitalization of $106.18 billion, a P/E ratio of 58.28, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82. The firm has a 50-day simple moving average of $216.53 and a 200-day simple moving average of $207.73. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.43. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56.
American Tower (NYSE:AMT - Get Free Report) last released its quarterly 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. The business had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The firm's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.79 EPS. As a group, analysts predict that American Tower Corporation will post 10.14 EPS for the current year.
American Tower Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Friday, June 13th. American Tower's dividend payout ratio is 174.81%.
American Tower Company Profile
(
Free Report)
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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