Value Partners Investments Inc. Acquires New Position in American Tower Corporation (NYSE:AMT)

Value Partners Investments Inc. acquired a new stake in American Tower Corporation (NYSE:AMT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,052 shares of the real estate investment trust's stock, valued at approximately $3,933,000.

Several other large investors have also bought and sold shares of AMT. Brighton Jones LLC lifted its holdings in American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after buying an additional 2,104 shares during the period. Pine Valley Investments Ltd Liability Co lifted its holdings in American Tower by 23.7% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 12,585 shares of the real estate investment trust's stock valued at $2,320,000 after buying an additional 2,412 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in American Tower by 89.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 5,936 shares of the real estate investment trust's stock valued at $1,089,000 after buying an additional 2,804 shares during the period. Advisor OS LLC lifted its holdings in American Tower by 15.4% in the fourth quarter. Advisor OS LLC now owns 1,194 shares of the real estate investment trust's stock valued at $219,000 after buying an additional 159 shares during the period. Finally, Checchi Capital Advisers LLC lifted its holdings in American Tower by 5.9% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,052 shares of the real estate investment trust's stock valued at $1,110,000 after buying an additional 336 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AMT shares. Royal Bank Of Canada increased their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. UBS Group increased their target price 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. Citigroup increased their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Wells Fargo & Company increased their target price on shares of American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Finally, Morgan Stanley started coverage on shares of American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price on the stock. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, American Tower has an average rating of "Buy" and an average target price of $240.25.

American Tower Stock Down 1.6%

American Tower stock opened at $220.34 on Thursday. The company has a market cap of $103.15 billion, a P/E ratio of 56.64, a price-to-earnings-growth ratio of 1.66 and a beta of 0.81. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56. The company has a fifty day simple moving average of $215.90 and a 200 day simple moving average of $203.66. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43.

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 for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. 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 firm earned $2.79 earnings per share. Research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio (DPR) 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.

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