16,300 Shares in American Tower Co. (NYSE:AMT) Bought by Two Sigma Advisers LP

Two Sigma Advisers LP bought a new position in shares of American Tower Co. (NYSE:AMT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 16,300 shares of the real estate investment trust's stock, valued at approximately $2,990,000.

A number of other institutional investors have also added to or reduced their stakes in AMT. Minot DeBlois Advisors LLC bought a new position in shares of American Tower in the fourth quarter worth approximately $29,000. Roxbury Financial LLC bought a new position in shares of American Tower in the 4th quarter worth $32,000. Graney & King LLC purchased a new stake in shares of American Tower during the 4th quarter valued at $32,000. Crowley Wealth Management Inc. bought a new stake in shares of American Tower during the 4th quarter worth $37,000. Finally, Bank of Jackson Hole Trust purchased a new position in American Tower in the fourth quarter worth $46,000. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AMT. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Royal Bank of Canada boosted their target price on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. JMP Securities increased their price target on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. Citigroup increased their target price on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a report on Monday, March 10th. Finally, Barclays boosted their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Two research 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. According to MarketBeat, American Tower has an average rating of "Buy" and an average price target of $240.25.

American Tower Trading Up 0.5%

AMT traded up $1.06 during midday trading on Friday, reaching $214.77. 5,861,516 shares of the company's stock traded hands, compared to its average volume of 2,505,441. American Tower Co. has a 52 week low of $172.51 and a 52 week 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 fifty day moving average of $215.21 and a two-hundred day moving average of $202.30. The stock has a market capitalization of $100.54 billion, a price-to-earnings ratio of 90.62, a P/E/G 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 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 earnings per share. On average, equities analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Friday, June 13th. American Tower's payout ratio is 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.