Northern Trust Corp Boosts Stake in American Tower Co. (NYSE:AMT)

Northern Trust Corp lifted its holdings in American Tower Co. (NYSE:AMT - Free Report) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,525,180 shares of the real estate investment trust's stock after acquiring an additional 524,089 shares during the quarter. Northern Trust Corp owned 1.18% of American Tower worth $1,013,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMT. The Manufacturers Life Insurance Company grew its position in American Tower by 3.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 864,289 shares of the real estate investment trust's stock valued at $158,519,000 after buying an additional 28,435 shares during the period. Second Half Financial Partners LLC purchased a new position in shares of American Tower in the fourth quarter worth about $480,000. NZS Capital LLC lifted its stake in shares of American Tower by 44.2% in the fourth quarter. NZS Capital LLC now owns 245,704 shares of the real estate investment trust's stock worth $45,065,000 after buying an additional 75,364 shares in the last quarter. Capital Analysts LLC raised its stake in American Tower by 19.2% during the fourth quarter. Capital Analysts LLC now owns 50,877 shares of the real estate investment trust's stock worth $9,331,000 after purchasing an additional 8,197 shares during the period. Finally, Voya Financial Advisors Inc. raised its stake in American Tower by 3.4% during the fourth quarter. Voya Financial Advisors Inc. now owns 6,541 shares of the real estate investment trust's stock worth $1,190,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Down 0.0 %

AMT opened at $210.81 on Tuesday. 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 $98.54 billion, a price-to-earnings ratio of 88.95, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The business has a 50-day moving average of $211.28 and a two-hundred day moving average of $201.94. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the company posted $2.29 EPS. American Tower's revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, April 11th were paid a dividend of $1.70 per share. 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. This represents a $6.80 annualized dividend and a yield of 3.23%. American Tower's dividend payout ratio (DPR) is 141.37%.

Wall Street Analysts Forecast Growth

AMT has been the subject of several research analyst reports. Wells Fargo & Company upgraded American Tower from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Barclays lifted their target price on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. JMP Securities started coverage on American Tower in a report on Monday, January 27th. They set an "outperform" rating and a $225.00 price target for the company. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, American Tower presently has a consensus rating of "Buy" and a consensus price target of $233.07.

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.

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