Triglav Skladi D.O.O. Takes Position in American Tower Co. (NYSE:AMT)

Triglav Skladi D.O.O. bought a new stake in American Tower Co. (NYSE:AMT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,000 shares of the real estate investment trust's stock, valued at approximately $917,000.

A number of other institutional investors also recently modified their holdings of AMT. Partners Group Holding AG raised its stake in American Tower by 8.3% in 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 purchasing an additional 28,988 shares in the last quarter. TigerOak Management L.L.C. acquired a new position in American Tower during the fourth quarter worth about $1,102,000. Aviva PLC raised its stake in American Tower by 13.4% during the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock worth $71,252,000 after acquiring an additional 46,009 shares in the last quarter. LGT Group Foundation increased its stake in shares of American Tower by 16.9% in the fourth quarter. LGT Group Foundation now owns 42,608 shares of the real estate investment trust's stock valued at $7,815,000 after buying an additional 6,165 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of American Tower in the fourth quarter valued at approximately $193,246,000. Institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. BMO Capital Markets upped their price objective on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Citigroup upped their target price on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a report on Monday, March 10th. JMP Securities upped their target price on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. Morgan Stanley started coverage on American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target on the stock. Finally, Raymond James increased their price target on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, American Tower presently has a consensus rating of "Buy" and an average target price of $240.25.

American Tower Stock Down 1.6%

NYSE:AMT traded down $3.46 during trading hours on Thursday, hitting $210.27. 1,969,804 shares of the company traded hands, compared to its average volume of 2,511,959. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm's 50-day simple moving average is $215.33 and its 200-day simple moving average is $201.67. 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 $98.43 billion, a PE ratio of 88.72, a PEG ratio of 1.29 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last announced its 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. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the firm posted $2.79 EPS. The business's revenue was down 9.6% compared to the same quarter last year. Equities analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced 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. This represents a $6.80 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's payout ratio is presently 174.81%.

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.