NZS Capital LLC Acquires 75,364 Shares of American Tower Co. (NYSE:AMT)

NZS Capital LLC lifted its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 44.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 245,704 shares of the real estate investment trust's stock after purchasing an additional 75,364 shares during the quarter. American Tower makes up about 1.9% of NZS Capital LLC's holdings, making the stock its 18th biggest position. NZS Capital LLC owned approximately 0.05% of American Tower worth $45,065,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Analysts LLC lifted its position in shares of American Tower by 19.2% during the 4th 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 last quarter. Voya Financial Advisors Inc. lifted its holdings in shares of 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 buying an additional 216 shares during the last quarter. Nebula Research & Development LLC bought a new stake in shares of American Tower in the fourth quarter valued at approximately $1,083,000. Integrated Wealth Concepts LLC grew its stake in shares of American Tower by 33.0% in the fourth quarter. Integrated Wealth Concepts LLC now owns 39,095 shares of the real estate investment trust's stock worth $7,170,000 after acquiring an additional 9,700 shares during the last quarter. Finally, Burling Wealth Partners LLC bought a new position in American Tower during the fourth quarter worth $4,750,000. Institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup upped their price objective on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Royal Bank of Canada upped their price target on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday. Wells Fargo & Company lifted their price objective on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday. Mizuho cut their target price on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Finally, Raymond James lifted their price target on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research note on Wednesday. Two investment 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.com, American Tower has an average rating of "Buy" and a consensus target price of $239.27.

American Tower Trading Down 0.2 %

Shares of NYSE:AMT traded down $0.45 during trading on Friday, hitting $223.58. 1,475,311 shares of the company's stock were exchanged, compared to its average volume of 2,482,151. 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 firm has a market cap of $104.51 billion, a P/E ratio of 94.35, a PEG ratio of 1.29 and a beta of 0.87. The firm has a 50-day moving average price of $213.19 and a two-hundred day moving average price of $202.25. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last released its 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. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the business earned $2.79 EPS. The business's quarterly revenue was down 9.6% compared to the same quarter last year. Equities analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, April 11th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.04%. This is a boost from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio (DPR) is 141.37%.

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.