Westbourne Investments Inc. Takes $942,000 Position in American Tower Co. (NYSE:AMT)

Westbourne Investments Inc. purchased a new stake in shares of American Tower Co. (NYSE:AMT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,136 shares of the real estate investment trust's stock, valued at approximately $942,000.

A number of other large investors have also recently made changes to their positions in AMT. Freestone Grove Partners LP bought a new stake in American Tower in the 4th quarter worth approximately $2,319,000. Parvin Asset Management LLC bought a new stake in shares of American Tower in the fourth quarter worth $130,000. Schonfeld Strategic Advisors LLC increased its position in American Tower by 356.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 312,680 shares of the real estate investment trust's stock valued at $57,349,000 after acquiring an additional 244,178 shares during the last quarter. AQR Capital Management LLC lifted its holdings in American Tower by 7.5% in the fourth quarter. AQR Capital Management LLC now owns 175,173 shares of the real estate investment trust's stock valued at $32,116,000 after acquiring an additional 12,180 shares during the period. Finally, Lido Advisors LLC boosted its position in American Tower by 6.7% in the fourth quarter. Lido Advisors LLC now owns 116,898 shares of the real estate investment trust's stock worth $21,626,000 after purchasing an additional 7,313 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

AMT stock traded down $0.54 during midday trading on Friday, hitting $223.49. The company's stock had a trading volume of 2,732,558 shares, compared to its average volume of 2,481,207. The company has a quick ratio of 0.69, a current 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 has a 50 day moving average of $213.58 and a two-hundred day moving average of $202.04. The firm has a market capitalization of $104.47 billion, a price-to-earnings ratio of 94.30, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower's revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.79 earnings per share. On average, analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, April 11th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, April 11th. This is a positive change 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 is presently 174.81%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMT. Raymond James upped their price target on shares of American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a research report on Wednesday. Royal Bank of Canada upped their target price on shares of American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Mizuho reduced their price objective on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group lifted their target price on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, American Tower currently has an average rating of "Buy" and a consensus target price of $239.27.

American Tower 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.