Bridgewater Associates LP Acquires New Stake in American Tower Co. (NYSE:AMT)

Bridgewater Associates LP bought a new stake in American Tower Co. (NYSE:AMT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,931 shares of the real estate investment trust's stock, valued at approximately $354,000.

Other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in American Tower during the 3rd quarter valued at $1,784,000. Destination Wealth Management raised its position in shares of American Tower by 2.7% in the third quarter. Destination Wealth Management now owns 94,992 shares of the real estate investment trust's stock valued at $22,091,000 after purchasing an additional 2,517 shares during the period. Tidal Investments LLC lifted its stake in shares of American Tower by 5.4% during the 3rd quarter. Tidal Investments LLC now owns 19,990 shares of the real estate investment trust's stock worth $4,649,000 after buying an additional 1,032 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust's stock worth $981,455,000 after buying an additional 38,436 shares during the period. Finally, Inspire Trust Co. N.A. grew its stake in American Tower by 19.3% in the 3rd quarter. Inspire Trust Co. N.A. now owns 7,800 shares of the real estate investment trust's stock valued at $1,814,000 after buying an additional 1,260 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on AMT shares. Mizuho reduced their price target 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. Wells Fargo & Company upgraded shares of American Tower from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $210.00 to $230.00 in a research note on Monday, March 17th. Morgan Stanley initiated coverage on shares of American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective for the company. BMO Capital Markets increased their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, Barclays boosted their price target on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $233.07.

American Tower Price Performance

NYSE AMT traded down $8.38 during trading on Wednesday, hitting $212.59. 7,045,949 shares of the company's stock were exchanged, compared to its average volume of 2,481,240. The stock's 50 day moving average price is $209.52 and its two-hundred day moving average price is $202.35. 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 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 $99.38 billion, a PE ratio of 89.70, a P/E/G ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.29 EPS. Research analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.20%. This is a positive change from American Tower's previous quarterly dividend of $1.62. American Tower's payout ratio is currently 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.