American Tower Co. (NYSE:AMT) Shares Purchased by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC lifted its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 356.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 312,680 shares of the real estate investment trust's stock after purchasing an additional 244,178 shares during the period. American Tower accounts for about 0.3% of Schonfeld Strategic Advisors LLC's holdings, making the stock its 28th biggest position. Schonfeld Strategic Advisors LLC owned approximately 0.07% of American Tower worth $57,349,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cohen & Steers Inc. grew its position in shares of American Tower by 21.8% during the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock valued at $3,516,890,000 after acquiring an additional 3,437,602 shares during the period. Geode Capital Management LLC raised its stake in American Tower by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock valued at $2,074,956,000 after purchasing an additional 129,192 shares in the last quarter. FMR LLC grew its position in American Tower by 5.0% in the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock worth $2,050,390,000 after acquiring an additional 537,136 shares in the last quarter. Capital Research Global Investors increased its position in shares of American Tower by 66.5% during the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock valued at $1,570,547,000 after purchasing an additional 3,421,413 shares during the last quarter. Finally, Norges Bank bought a new position in American Tower during the fourth quarter valued at approximately $1,164,851,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. BMO Capital Markets increased their target price on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Barclays lifted their price target on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Scotiabank boosted their price target on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research note on Wednesday. Finally, Mizuho reduced their target price on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $239.27.

American Tower Trading Down 0.2 %

AMT traded down $0.54 during mid-day trading on Friday, hitting $223.49. 2,732,558 shares of the stock were exchanged, compared to its average volume of 2,483,801. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56. The firm's fifty day moving average is $213.19 and its two-hundred day moving average is $202.25. 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 company has a market cap of $104.47 billion, a PE ratio of 94.30, a PEG ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating the consensus estimate of $2.41 by $0.34. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period in the prior year, the firm posted $2.79 earnings per share. The firm's revenue was down 9.6% on a year-over-year basis. Equities analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal 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 $1.70 dividend. The ex-dividend date of this dividend was Friday, April 11th. This is a boost from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.04%. American Tower's dividend payout ratio (DPR) is 141.37%.

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.