Sora Investors LLC Makes New $20.88 Million Investment in American Tower Co. (NYSE:AMT)

Sora Investors LLC purchased a new position in shares of American Tower Co. (NYSE:AMT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 113,829 shares of the real estate investment trust's stock, valued at approximately $20,877,000. American Tower accounts for approximately 2.3% of Sora Investors LLC's investment portfolio, making the stock its 13th biggest holding.

A number of other large investors also recently made changes to their positions in the business. Minot DeBlois Advisors LLC purchased a new position in shares of American Tower in the 4th quarter worth $29,000. Graney & King LLC purchased a new position in shares of American Tower in the 4th quarter worth $32,000. Roxbury Financial LLC purchased a new position in shares of American Tower in the 4th quarter worth $32,000. Crowley Wealth Management Inc. purchased a new position in shares of American Tower in the 4th quarter worth $37,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of American Tower in the 4th quarter worth $46,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMT. Scotiabank increased their target price on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. UBS Group increased their price target on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Citigroup increased their price target on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a report on Monday, March 10th. Barclays increased their price target on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Finally, Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, American Tower currently has a consensus rating of "Buy" and an average target price of $240.25.

American Tower Stock Up 0.8%

NYSE:AMT traded up $1.73 during mid-day trading on Monday, reaching $215.11. The stock had a trading volume of 1,733,382 shares, compared to its average volume of 2,507,897. The company has a market capitalization of $100.70 billion, a price-to-earnings ratio of 90.76, a price-to-earnings-growth 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 stock's 50 day simple moving average is $214.94 and its two-hundred day simple moving average is $201.47. 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 posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion during 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 company's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period last year, the firm earned $2.79 earnings per share. Equities analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be paid 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 (DPR) is 174.81%.

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.