Woodline Partners LP Purchases Shares of 28,456 American Tower Co. (NYSE:AMT)

Woodline Partners LP acquired a new stake in American Tower Co. (NYSE:AMT - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 28,456 shares of the real estate investment trust's stock, valued at approximately $5,219,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Red Door Wealth Management LLC lifted its holdings in American Tower by 6.7% during the 4th quarter. Red Door Wealth Management LLC now owns 18,792 shares of the real estate investment trust's stock worth $3,447,000 after purchasing an additional 1,186 shares in the last quarter. Verde Capital Management lifted its holdings in shares of American Tower by 2.7% in the fourth quarter. Verde Capital Management now owns 9,093 shares of the real estate investment trust's stock worth $1,668,000 after buying an additional 242 shares in the last quarter. Montecito Bank & Trust lifted its holdings in shares of American Tower by 44.1% in the fourth quarter. Montecito Bank & Trust now owns 1,301 shares of the real estate investment trust's stock worth $239,000 after buying an additional 398 shares in the last quarter. Brighton Jones LLC grew its stake in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after acquiring an additional 2,104 shares in the last quarter. Finally, RFG Advisory LLC increased its holdings in American Tower by 13.5% during the 4th quarter. RFG Advisory LLC now owns 8,442 shares of the real estate investment trust's stock worth $1,548,000 after acquiring an additional 1,002 shares during the period. Institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMT. Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. UBS Group upped their target price on American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Hsbc Global Res raised American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Morgan Stanley began coverage on American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price objective for the company. Finally, Barclays raised their target price on shares of American Tower from $214.00 to $223.00 and gave the company 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $240.25.

American Tower Trading Up 0.8%

Shares of American Tower stock traded up $1.78 during trading on Tuesday, reaching $213.64. The company's stock had a trading volume of 1,839,923 shares, compared to its average volume of 2,513,613. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52-week low of $172.51 and a 52-week high of $243.56. The firm's 50-day moving average is $215.18 and its two-hundred day moving average is $201.78. The company has a market cap of $100.01 billion, a price-to-earnings ratio of 90.14, a PEG ratio of 1.29 and a beta of 0.86.

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

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.18%. American Tower's payout ratio is 174.81%.

American Tower 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.