Raiffeisen Bank International AG Acquires New Stake in American Tower Co. (NYSE:AMT)

Raiffeisen Bank International AG bought a new stake in American Tower Co. (NYSE:AMT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 33,764 shares of the real estate investment trust's stock, valued at approximately $6,141,000.

A number of other large investors have also recently made changes to their positions in AMT. Harbor Capital Advisors Inc. increased its holdings in shares of American Tower by 17.8% in the 4th 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 grew its position in American Tower by 29.0% during 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 during the last quarter. Pines Wealth Management LLC purchased a new stake in shares of American Tower in the fourth quarter valued at about $218,000. Assenagon Asset Management S.A. raised its holdings in shares of American Tower by 1.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 17,107 shares of the real estate investment trust's stock valued at $3,138,000 after buying an additional 250 shares during the last quarter. Finally, Pinnacle Bancorp Inc. increased its holdings in shares of American Tower by 8.9% in the fourth quarter. Pinnacle Bancorp Inc. now owns 934 shares of the real estate investment trust's stock valued at $171,000 after purchasing an additional 76 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

American Tower stock traded down $0.41 during trading hours on Wednesday, hitting $214.99. The stock had a trading volume of 718,581 shares, compared to its average volume of 2,501,005. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56. The stock has a market capitalization of $100.65 billion, a price-to-earnings ratio of 90.69, a PEG ratio of 1.29 and a beta of 0.86. The stock's fifty day moving average is $215.27 and its two-hundred day moving average is $201.59. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $2.54 billion. During the same period in the prior year, the company earned $2.79 EPS. The firm's revenue was down 9.6% on a year-over-year basis. As a group, analysts predict that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.70 per share. The ex-dividend date is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.16%. American Tower's dividend payout ratio (DPR) is 174.81%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays upped their price objective on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. BMO Capital Markets increased their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. JMP Securities boosted their target price on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley initiated coverage on American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price for the company. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, American Tower has an average rating of "Buy" and an average price target of $240.25.

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.