Voloridge Investment Management LLC Purchases Shares of 57,659 American Tower Co. (NYSE:AMT)

Voloridge Investment Management LLC purchased a new position in American Tower Co. (NYSE:AMT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 57,659 shares of the real estate investment trust's stock, valued at approximately $10,575,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMT. Waverly Advisors LLC raised its stake in shares of American Tower by 11.1% in the 4th quarter. Waverly Advisors LLC now owns 6,068 shares of the real estate investment trust's stock valued at $1,113,000 after purchasing an additional 604 shares in the last quarter. Woodline Partners LP acquired a new stake in American Tower during the fourth quarter valued at approximately $5,219,000. Vident Advisory LLC raised its stake in American Tower by 8.1% during the fourth quarter. Vident Advisory LLC now owns 4,611 shares of the real estate investment trust's stock valued at $846,000 after buying an additional 347 shares in the last quarter. Sophron Capital Management L.P. bought a new position in American Tower during the 4th quarter worth approximately $12,586,000. Finally, Vienna Asset Management LLC acquired a new position in shares of American Tower in the 4th quarter worth approximately $497,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

Shares of AMT traded down $1.20 during trading hours on Wednesday, reaching $212.50. 1,787,622 shares of the company's stock traded hands, compared to its average volume of 2,513,451. American Tower Co. has a twelve month low of $172.51 and a twelve month high of $243.56. The business's fifty day simple moving average is $215.16 and its two-hundred day simple moving average is $201.86. 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 market capitalization of $99.48 billion, a price-to-earnings ratio of 89.66, a P/E/G ratio of 1.29 and a beta of 0.86.

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 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower's 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. Analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders 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 yield of 3.20%. The ex-dividend date is Friday, June 13th. American Tower's payout ratio is currently 174.81%.

Analyst Ratings Changes

Several brokerages recently issued reports on AMT. BMO Capital Markets raised their price objective on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Citigroup raised their price target on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Bank of America initiated coverage on shares of American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 price objective on the stock. Finally, JMP Securities lifted their target price on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $240.25.

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.