Freestone Grove Partners LP bought a new stake 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 firm bought 12,644 shares of the real estate investment trust's stock, valued at approximately $2,319,000.
Several other large investors have also recently made changes to their positions in the company. Roxbury Financial LLC acquired a new position in shares of American Tower during the 4th quarter worth approximately $32,000. Graney & King LLC acquired a new stake in American Tower during the fourth quarter worth about $32,000. Crowley Wealth Management Inc. acquired a new stake in American Tower during the fourth quarter worth about $37,000. Bank of Jackson Hole Trust purchased a new position in American Tower during the fourth quarter worth about $46,000. Finally, Versant Capital Management Inc grew its stake in shares of American Tower by 113.9% in the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 139 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on AMT shares. BMO Capital Markets upped their price objective on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Scotiabank raised their price objective on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. 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 research note on Thursday, May 1st. Finally, Morgan Stanley initiated coverage on shares of American Tower in a research report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target for the company. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, American Tower presently has a consensus rating of "Buy" and a consensus price target of $239.27.
Read Our Latest Analysis on AMT
American Tower Stock Up 0.1 %
NYSE:AMT traded up $0.32 during mid-day trading on Tuesday, hitting $224.19. The stock had a trading volume of 1,581,475 shares, compared to its average volume of 2,475,261. American Tower Co. has a twelve month low of $172.51 and a twelve month high of $243.56. The stock has a 50-day simple moving average of $214.04 and a two-hundred day simple moving average of $201.87. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market capitalization of $104.80 billion, a PE ratio of 94.59, a PEG ratio of 1.29 and a beta of 0.86.
American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.34. The business had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company's revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.79 EPS. On average, equities research analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.
American Tower Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, April 11th were issued a $1.70 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.03%. This is an increase from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio is presently 174.81%.
American Tower Company Profile
(
Free Report)
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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