Second Line Capital LLC lifted its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,542 shares of the real estate investment trust's stock after acquiring an additional 2,686 shares during the period. Second Line Capital LLC's holdings in American Tower were worth $2,691,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in AMT. Cohen & Steers Inc. lifted its stake 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 worth $3,516,890,000 after buying an additional 3,437,602 shares during the last quarter. Geode Capital Management LLC raised its stake in American Tower by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock worth $2,074,956,000 after purchasing an additional 129,192 shares in the last quarter. FMR LLC increased its holdings in American Tower by 5.0% in the 4th quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock valued at $2,050,390,000 after buying an additional 537,136 shares during the period. Capital Research Global Investors increased its holdings in American Tower by 66.5% in 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 buying an additional 3,421,413 shares during the period. Finally, Norges Bank bought a new position in American Tower in the 4th quarter valued at about $1,164,851,000. Institutional investors own 92.69% of the company's stock.
American Tower Stock Performance
American Tower stock traded up $0.32 during mid-day trading on Tuesday, hitting $215.45. The company had a trading volume of 1,755,888 shares, compared to its average volume of 2,507,987. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12-month low of $172.51 and a 12-month high of $243.56. The company's fifty day moving average is $215.11 and its 200-day moving average is $201.49. The company has a market capitalization of $100.86 billion, a price-to-earnings ratio of 90.91, a P/E/G ratio of 1.29 and a beta of 0.86.
American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the company posted $2.79 EPS. The business's quarterly revenue was down 9.6% on a year-over-year basis. Equities research analysts predict that American Tower Co. will post 10.14 EPS for the current year.
American Tower Dividend Announcement
The firm 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 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 is currently 174.81%.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Raymond James raised their target price on shares of American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Scotiabank lifted their price target on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. BMO Capital Markets lifted their price target on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Finally, JMP Securities boosted their target price 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. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $240.25.
View Our Latest Stock Analysis on American Tower
American Tower Profile
(
Free Report)
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.
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