Sirios Capital Management L P lifted its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 32.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,617 shares of the real estate investment trust's stock after acquiring an additional 2,333 shares during the period. Sirios Capital Management L P's holdings in American Tower were worth $1,764,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the company. Roxbury Financial LLC purchased a new position in shares of American Tower in the fourth quarter worth $32,000. Graney & King LLC bought a new stake in American Tower in the 4th quarter worth about $32,000. Crowley Wealth Management Inc. purchased a new position in American Tower in the 4th quarter worth about $37,000. Bank of Jackson Hole Trust bought a new position in American Tower during the 4th quarter valued at about $46,000. Finally, Versant Capital Management Inc grew its stake in shares of American Tower by 113.9% in the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust's stock worth $48,000 after acquiring an additional 139 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.
American Tower Price Performance
Shares of American Tower stock traded down $0.27 during trading hours on Friday, hitting $210.64. The company's stock had a trading volume of 2,464,545 shares, compared to its average volume of 2,482,365. The company has a market cap of $98.47 billion, a PE ratio of 88.88, a PEG 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. The business has a 50 day moving average price of $210.83 and a two-hundred day moving average price of $202.24. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.
American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.51 billion. During the same period in the previous year, the firm earned $2.29 EPS. The firm's revenue was up 3.7% compared to the same quarter last year. Analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.
American Tower Increases Dividend
The business also recently announced 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. This is a positive change from American Tower's previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.23%. American Tower's dividend payout ratio is currently 141.37%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Barclays increased their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Mizuho cut their price objective on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Hsbc Global Res raised American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. BMO Capital Markets upped their price target on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Finally, Scotiabank reissued an "outperform" rating on shares of American Tower in a report on Tuesday. Two investment 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 MarketBeat, the company has an average rating of "Buy" and an average target price of $233.07.
View Our Latest Report on American Tower
American Tower Profile
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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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