Capital International Sarl Buys New Stake in American Tower Co. (NYSE:AMT)

Capital International Sarl bought a new position in American Tower Co. (NYSE:AMT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,534 shares of the real estate investment trust's stock, valued at approximately $465,000.

Several other hedge funds also recently bought and sold shares of the company. Cohen & Steers Inc. increased its holdings in American Tower by 21.8% in the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock valued at $3,516,890,000 after acquiring an additional 3,437,602 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of American Tower by 1.2% in the fourth 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 during the last quarter. FMR LLC lifted its position in shares of American Tower by 5.0% in the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock worth $2,050,390,000 after buying an additional 537,136 shares in the last quarter. Norges Bank bought a new position in American Tower during the fourth quarter valued at approximately $1,164,851,000. Finally, Invesco Ltd. grew its holdings in shares of American Tower by 8.3% in the fourth quarter. Invesco Ltd. now owns 5,941,586 shares of the real estate investment trust's stock valued at $1,089,746,000 after purchasing an additional 455,225 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

AMT has been the subject of a number of recent research reports. Scotiabank lifted their price objective on shares of American Tower from $220.00 to $234.00 and gave the stock a "sector outperform" rating in a research note on Tuesday. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Morgan Stanley initiated coverage on American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price for the company. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Finally, BMO Capital Markets increased their target price on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $233.07.

American Tower Trading Down 0.8 %

AMT traded down $1.65 during trading on Thursday, hitting $210.95. 2,814,195 shares of the stock were exchanged, compared to its average volume of 2,481,861. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a 50 day simple moving average of $209.98 and a 200 day simple moving average of $202.42. The firm has a market cap of $98.61 billion, a price-to-earnings ratio of 89.01, a P/E/G ratio of 1.29 and a beta of 0.87. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

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 for the quarter, beating the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 earnings per share. As a group, equities analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.22%. This is a positive change from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio is currently 141.37%.

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.