Sirios Capital Management L P Has $1.76 Million Stake in American Tower Co. (NYSE:AMT)

Sirios Capital Management L P raised its stake in American Tower Co. (NYSE:AMT - Free Report) by 32.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,617 shares of the real estate investment trust's stock after purchasing an additional 2,333 shares during the quarter. Sirios Capital Management L P's holdings in American Tower were worth $1,764,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AMT. Norges Bank purchased a new position in American Tower in the fourth quarter valued at approximately $1,164,851,000. Cohen & Steers Inc. raised its position in American Tower by 21.8% in the fourth 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 purchasing an additional 3,437,602 shares during the period. Capital Research Global Investors lifted its stake in shares of American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after purchasing an additional 3,421,413 shares in the last quarter. Capital World Investors boosted its position in shares of American Tower by 160.6% in the fourth quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust's stock worth $902,396,000 after buying an additional 3,032,005 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of American Tower in the fourth quarter valued at about $193,246,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the topic of a number of recent research reports. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Barclays raised their target price on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. BMO Capital Markets lifted their price objective on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, JMP Securities started coverage on shares of American Tower in a research note on Monday, January 27th. They issued an "outperform" rating and a $225.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $233.07.

American Tower Price Performance

AMT stock traded down $0.27 during trading hours on Friday, hitting $210.64. 2,464,545 shares of the stock traded hands, compared to its average volume of 2,482,367. The stock has a 50-day simple moving average of $210.83 and a 200 day simple moving average of $202.24. The company has a market cap of $98.47 billion, a P/E ratio of 88.88, a P/E/G ratio of 1.29 and a beta of 0.87. American Tower Co. has a one year low of $170.46 and a one year 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.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results 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. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.29 earnings per share. Equities analysts forecast 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. Stockholders 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 is a positive change 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 3.23%. American Tower's payout ratio is 141.37%.

American Tower 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.