Quantinno Capital Management LP Raises Position in American Tower Co. (NYSE:AMT)

Quantinno Capital Management LP grew its position in American Tower Co. (NYSE:AMT - Free Report) by 82.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,228 shares of the real estate investment trust's stock after purchasing an additional 18,173 shares during the quarter. Quantinno Capital Management LP's holdings in American Tower were worth $7,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. raised its stake in shares of American Tower by 17.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 702 shares of the real estate investment trust's stock valued at $129,000 after acquiring an additional 106 shares during the period. Brookstone Capital Management boosted its stake in American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock worth $1,629,000 after purchasing an additional 1,995 shares in the last quarter. Pines Wealth Management LLC acquired a new stake in American Tower in the 4th quarter worth approximately $218,000. Assenagon Asset Management S.A. raised its position in American Tower by 1.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 17,107 shares of the real estate investment trust's stock worth $3,138,000 after buying an additional 250 shares during the last quarter. Finally, Pinnacle Bancorp Inc. raised its position in American Tower by 8.9% during the 4th quarter. Pinnacle Bancorp Inc. now owns 934 shares of the real estate investment trust's stock worth $171,000 after buying an additional 76 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 0.2%

AMT traded up $0.37 during midday trading on Wednesday, hitting $215.77. 648,337 shares of the company were exchanged, compared to its average volume of 2,500,816. The firm has a market capitalization of $101.01 billion, a P/E ratio of 91.09, a P/E/G ratio of 1.29 and a beta of 0.86. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56. The firm's 50 day moving average price is $215.27 and its 200-day moving average price is $201.59. 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 posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion for 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%. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.79 EPS. As a group, equities analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's dividend payout ratio (DPR) is 174.81%.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent analyst reports. JMP Securities boosted their price target 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. Raymond James boosted 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, April 30th. Bank of America assumed coverage on shares of American Tower in a research note on Monday. They set a "buy" rating and a $255.00 target price on the stock. Citizens Jmp raised American Tower to a "strong-buy" rating in a report on Monday, January 27th. Finally, Barclays lifted their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $240.25.

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.