Point72 Europe London LLP Grows Position in American Tower Co. (NYSE:AMT)

Point72 Europe London LLP lifted its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 69.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,471 shares of the real estate investment trust's stock after acquiring an additional 30,156 shares during the period. Point72 Europe London LLP's holdings in American Tower were worth $13,475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMT. Minot DeBlois Advisors LLC bought a new stake in American Tower in the 4th quarter worth about $29,000. Roxbury Financial LLC bought a new stake in American Tower in the 4th quarter worth about $32,000. Graney & King LLC bought a new stake in American Tower in the 4th quarter worth about $32,000. Crowley Wealth Management Inc. bought a new stake in American Tower in the 4th quarter worth about $37,000. Finally, Bank of Jackson Hole Trust bought a new stake in American Tower in the 4th quarter worth about $46,000. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

AMT stock traded up $1.56 during trading on Friday, hitting $213.24. 2,812,703 shares of the company's stock traded hands, compared to its average volume of 2,511,007. American Tower Co. has a 52 week low of $172.51 and a 52 week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The business has a fifty day simple moving average of $214.94 and a 200 day simple moving average of $201.55. The stock has a market capitalization of $99.83 billion, a price-to-earnings ratio of 89.97, a P/E/G ratio of 1.29 and a beta of 0.86.

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 (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.34. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business's revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the business earned $2.79 EPS. As a group, research analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.19%. American Tower's payout ratio is 174.81%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AMT shares. UBS Group upped their price objective on shares of American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. JMP Securities increased their target price on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. BMO Capital Markets increased their target price on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Citigroup increased their target price 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. Two research 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 data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $239.27.

About American Tower

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.