54,685 Shares in American Tower Co. (NYSE:AMT) Purchased by Aware Super Pty Ltd as trustee of Aware Super

Aware Super Pty Ltd as trustee of Aware Super bought a new stake in American Tower Co. (NYSE:AMT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 54,685 shares of the real estate investment trust's stock, valued at approximately $10,030,000.

Other hedge funds have also recently made changes to their positions in the company. Canada Post Corp Registered Pension Plan acquired a new position in American Tower in the fourth quarter valued at approximately $4,267,000. XTX Topco Ltd acquired a new position in shares of American Tower during the 4th quarter valued at $336,000. Harber Asset Management LLC boosted its stake in American Tower by 21.7% during the fourth quarter. Harber Asset Management LLC now owns 81,391 shares of the real estate investment trust's stock worth $14,928,000 after acquiring an additional 14,498 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in American Tower by 2.1% in the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock worth $477,000 after purchasing an additional 54 shares during the period. Finally, Mariner LLC grew its holdings in American Tower by 30.9% in the fourth quarter. Mariner LLC now owns 363,088 shares of the real estate investment trust's stock worth $66,585,000 after purchasing an additional 85,693 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AMT shares. Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a report on Monday, January 27th. Mizuho dropped their price target on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Scotiabank cut their price target on American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a research note on Thursday, January 23rd. Barclays increased their price objective on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Finally, Morgan Stanley initiated coverage on American Tower in a research report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $232.07.

American Tower Stock Performance

AMT stock traded up $5.03 during mid-day trading on Friday, hitting $223.03. The company had a trading volume of 2,599,002 shares, compared to its average volume of 2,462,013. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The stock's fifty day moving average price is $207.73 and its two-hundred day moving average price is $202.71. The firm has a market cap of $104.26 billion, a PE ratio of 94.10, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the business earned $2.29 earnings per share. American Tower's revenue for the quarter was up 3.7% on a year-over-year basis. On average, 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 declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.05%. This is a positive change from American Tower's previous quarterly dividend of $1.62. American Tower's payout ratio is 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.