American Tower Co. (NYSE:AMT) Shares Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV raised its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 13.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 36,764 shares of the real estate investment trust's stock after buying an additional 4,462 shares during the period. Mercer Global Advisors Inc. ADV's holdings in American Tower were worth $6,743,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc increased its holdings in shares of American Tower by 113.9% during the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 139 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust's stock worth $260,743,000 after acquiring an additional 314,769 shares in the last quarter. Iowa State Bank increased its stake in shares of American Tower by 2.1% in the 4th quarter. Iowa State Bank now owns 15,843 shares of the real estate investment trust's stock valued at $2,906,000 after purchasing an additional 324 shares in the last quarter. Insight Wealth Strategies LLC boosted its position in American Tower by 1.9% during the fourth quarter. Insight Wealth Strategies LLC now owns 11,051 shares of the real estate investment trust's stock worth $2,027,000 after purchasing an additional 211 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. grew its holdings in American Tower by 5.9% in the fourth quarter. Ables Iannone Moore & Associates Inc. now owns 16,749 shares of the real estate investment trust's stock valued at $3,072,000 after purchasing an additional 938 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Trading Up 1.0 %

NYSE:AMT traded up $2.08 during trading hours on Friday, reaching $219.96. 2,230,422 shares of the stock were exchanged, compared to its average volume of 2,482,841. American Tower Co. has a twelve month low of $172.51 and a twelve month high of $243.56. The business has a 50-day moving average of $214.88 and a two-hundred day moving average of $202.11. The company has a market capitalization of $102.82 billion, a price-to-earnings ratio of 92.81, a PEG ratio of 1.29 and a beta of 0.86. 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 (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 the consensus estimate of $2.41 by $0.34. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower's revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.79 EPS. On average, equities analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, April 11th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Friday, April 11th. This is a boost from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio (DPR) is currently 174.81%.

Wall Street Analyst Weigh In

AMT has been the topic of several recent analyst reports. Morgan Stanley assumed coverage on shares of American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price objective on the stock. Royal Bank of Canada boosted their price objective on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Raymond James raised their target price on American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Citigroup raised their price objective on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a report on Monday, March 10th. Finally, JMP Securities upped their target price on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $239.27.

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.