Mirabella Financial Services LLP Takes $3.42 Million Position in American Tower Co. (NYSE:AMT)

Mirabella Financial Services LLP 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 & Exchange Commission. The firm purchased 18,651 shares of the real estate investment trust's stock, valued at approximately $3,421,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Roxbury Financial LLC purchased a new stake in American Tower in the 4th quarter valued at approximately $32,000. Graney & King LLC purchased a new position in American Tower in the fourth quarter worth $32,000. Crowley Wealth Management Inc. acquired a new position in shares of American Tower during the 4th quarter worth $37,000. Bank of Jackson Hole Trust acquired a new stake in shares of American Tower in the fourth quarter valued at about $46,000. Finally, Versant Capital Management Inc boosted its holdings in American Tower by 113.9% during the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust's stock worth $48,000 after buying an additional 139 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Down 0.8 %

Shares of NYSE AMT traded down $1.65 on Thursday, reaching $210.95. 2,885,495 shares of the company traded hands, compared to its average volume of 2,482,146. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a 50 day moving average of $209.98 and a 200 day moving average of $202.42. The stock has a market capitalization of $98.61 billion, a PE ratio of 89.01, a P/E/G ratio of 1.29 and a beta of 0.87. 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 (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 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 up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $2.29 EPS. On average, equities research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Friday, April 11th. This is an increase from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio (DPR) is currently 141.37%.

Analyst Ratings Changes

Several equities research analysts have recently commented on AMT shares. Barclays boosted their price target on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Wells Fargo & Company upgraded American Tower from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $210.00 to $230.00 in a research report on Monday, March 17th. JMP Securities started coverage on shares of American Tower in a research report on Monday, January 27th. They issued an "outperform" rating and a $225.00 price objective on the stock. Mizuho dropped 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. Finally, Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $233.07.

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.