Capital International Investors decreased its holdings in American Tower Co. (NYSE:AMT - Free Report) by 15.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 892,102 shares of the real estate investment trust's stock after selling 165,032 shares during the quarter. Capital International Investors owned 0.19% of American Tower worth $163,620,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Roxbury Financial LLC purchased a new stake in shares of American Tower in the 4th quarter valued at about $32,000. Graney & King LLC acquired a new position in shares of American Tower during the 4th quarter worth $32,000. Crowley Wealth Management Inc. purchased a new position in American Tower during the fourth quarter worth $37,000. Bank of Jackson Hole Trust purchased a new position in shares of American Tower during the fourth quarter valued at approximately $46,000. Finally, Versant Capital Management Inc increased its stake in shares of American Tower by 113.9% during the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust's stock valued at $48,000 after acquiring an additional 139 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.
American Tower Stock Performance
Shares of NYSE:AMT traded down $1.65 during midday trading on Thursday, hitting $210.95. The company's stock had a trading volume of 2,814,195 shares, compared to its average volume of 2,481,861. 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 debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $98.61 billion, a price-to-earnings ratio of 89.01, a PEG ratio of 1.29 and a beta of 0.87. The stock's 50 day simple moving average is $209.98 and its 200 day simple moving average is $202.42.
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 (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the firm posted $2.29 EPS. The business's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts anticipate that American Tower Co. will post 10.14 earnings per share 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 paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, April 11th. This is an increase from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.22%. American Tower's payout ratio is currently 141.37%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on AMT shares. Scotiabank raised their target price on American Tower from $220.00 to $234.00 and gave the company a "sector outperform" rating in a research note on Tuesday. Morgan Stanley assumed coverage on American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price for the company. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Wells Fargo & Company raised American Tower from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Finally, JMP Securities began coverage on American Tower in a research note on Monday, January 27th. They issued an "outperform" rating and a $225.00 price target on the stock. Two investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $233.07.
View Our Latest Research Report on AMT
American Tower Profile
(
Free Report)
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.
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