Vienna Asset Management LLC Purchases New Shares in American Tower Co. (NYSE:AMT)

Vienna Asset Management LLC bought a new position in shares of American Tower Co. (NYSE:AMT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 2,710 shares of the real estate investment trust's stock, valued at approximately $497,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cohen & Steers Inc. lifted its position in shares of American Tower by 21.8% during the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock valued at $3,516,890,000 after buying an additional 3,437,602 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of American Tower by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock valued at $2,074,956,000 after buying an additional 129,192 shares during the last quarter. FMR LLC lifted its position in shares of American Tower by 5.0% during the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock valued at $2,050,390,000 after buying an additional 537,136 shares during the last quarter. Capital Research Global Investors lifted its position in shares of American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock valued at $1,570,547,000 after buying an additional 3,421,413 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of American Tower during the fourth quarter valued at about $1,164,851,000. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on AMT. Scotiabank increased their price target on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Raymond James lifted 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 note on Wednesday, April 30th. Royal Bank of Canada lifted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Bank of America initiated coverage on shares of American Tower in a research note on Monday. They issued a "buy" rating and a $255.00 target price for the company. Finally, Citigroup lifted their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $240.25.

American Tower Stock Performance

AMT traded down $3.46 during trading on Thursday, reaching $210.27. 1,969,804 shares of the company's stock were exchanged, compared to its average volume of 2,511,959. 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 stock has a market capitalization of $98.43 billion, a P/E ratio of 88.72, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The company's fifty day simple moving average is $215.33 and its 200-day simple moving average is $201.67. American Tower Co. has a 1 year low of $172.51 and a 1 year high of $243.56.

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

American Tower Dividend Announcement

The company also recently announced 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. This represents a $6.80 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio (DPR) 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.