Rockbridge Capital Management LLC Buys New Shares in American Tower Co. (NYSE:AMT)

Rockbridge Capital Management LLC bought a new stake in American Tower Co. (NYSE:AMT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 91,744 shares of the real estate investment trust's stock, valued at approximately $16,827,000. American Tower makes up approximately 9.6% of Rockbridge Capital Management LLC's holdings, making the stock its 4th biggest position.

A number of other large investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. increased its position in American Tower by 17.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 702 shares of the real estate investment trust's stock worth $129,000 after purchasing an additional 106 shares during the last quarter. Brookstone Capital Management increased its holdings in shares of 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 buying an additional 1,995 shares during the last quarter. Pallas Capital Advisors LLC raised its position in shares of American Tower by 2.6% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,602 shares of the real estate investment trust's stock worth $477,000 after buying an additional 67 shares during the period. Pines Wealth Management LLC purchased a new stake in American Tower during the fourth quarter valued at about $218,000. Finally, Community Trust & Investment Co. increased its stake in American Tower by 4.4% during the fourth quarter. Community Trust & Investment Co. now owns 15,745 shares of the real estate investment trust's stock worth $2,888,000 after acquiring an additional 666 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Performance

Shares of American Tower stock traded up $0.15 on Tuesday, reaching $215.28. 658,628 shares of the company were exchanged, compared to its average volume of 2,887,136. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56. The company's 50-day moving average is $215.11 and its two-hundred day moving average is $201.49. The firm has a market cap of $100.78 billion, a price-to-earnings ratio of 90.85, a P/E/G ratio of 1.29 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly 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 company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.79 earnings per share. As a group, research analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be given a $1.70 dividend. 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 3.16%. American Tower's dividend payout ratio (DPR) is 174.81%.

Analysts Set New Price Targets

AMT has been the subject of a number of research reports. Wells Fargo & Company boosted their target price on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Citigroup raised their target price on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Royal Bank of Canada raised their price objective on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Morgan Stanley initiated coverage on American Tower in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price for the company. Two equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus 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.