Brookstone Capital Management Raises Stake in American Tower Co. (NYSE:AMT)

Brookstone Capital Management lifted its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 29.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,879 shares of the real estate investment trust's stock after purchasing an additional 1,995 shares during the period. Brookstone Capital Management's holdings in American Tower were worth $1,629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its position in American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust's stock worth $4,924,091,000 after purchasing an additional 635,726 shares during the last quarter. Geode Capital Management LLC increased its position in American Tower by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust's stock valued at $2,599,074,000 after acquiring an additional 204,426 shares during the period. FMR LLC raised its stake in American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust's stock valued at $2,474,934,000 after acquiring an additional 2,152,646 shares during the last quarter. Ameriprise Financial Inc. lifted its position in American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust's stock worth $1,243,333,000 after acquiring an additional 1,885,421 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of American Tower by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust's stock valued at $1,211,397,000 after purchasing an additional 243,061 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

Shares of NYSE:AMT traded up $9.94 during trading on Thursday, hitting $190.26. 3,544,721 shares of the stock were exchanged, compared to its average volume of 2,521,602. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a market cap of $88.91 billion, a PE ratio of 80.28, a P/E/G ratio of 1.16 and a beta of 0.84. The company has a fifty day moving average price of $193.24 and a two-hundred day moving average price of $211.46. 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 quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $2.58 EPS. On average, analysts forecast that American Tower Co. will post 10.15 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.41%. The ex-dividend date is Friday, December 27th. American Tower's payout ratio is 273.42%.

Wall Street Analyst Weigh In

AMT has been the subject of several analyst reports. BMO Capital Markets cut their price target on American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Mizuho reduced their target price on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Barclays lowered their target price on shares of American Tower from $251.00 to $215.00 and set an "overweight" rating on the stock in a report on Monday. Scotiabank cut their price target on shares of American Tower from $248.00 to $236.00 and set a "sector outperform" rating for the company in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their price objective on American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $230.67.

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.