Canada Post Corp Registered Pension Plan Purchases New Shares in American Tower Co. (NYSE:AMT)

Canada Post Corp Registered Pension Plan acquired a new position in shares of 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 institutional investor acquired 23,267 shares of the real estate investment trust's stock, valued at approximately $4,267,000.

Several other large investors have also recently added to or reduced their stakes in AMT. Glenview Trust co grew its stake in shares of American Tower by 0.8% during the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock valued at $1,294,000 after purchasing an additional 54 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in shares of American Tower by 2.1% in the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock valued at $477,000 after buying an additional 54 shares during the period. Precedent Wealth Partners LLC increased its holdings in shares of American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock worth $235,000 after acquiring an additional 58 shares in the last quarter. Resonant Capital Advisors LLC raised its holdings in American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock worth $206,000 after buying an additional 61 shares during the period. Finally, Calamos Wealth Management LLC lifted its position in American Tower by 2.9% in the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock valued at $398,000 after acquiring an additional 61 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Stock Performance

Shares of AMT stock traded up $5.03 during trading hours on Friday, hitting $223.03. 2,599,002 shares of the company were exchanged, compared to its average volume of 2,462,013. American Tower Co. has a 52-week low of $170.46 and a 52-week 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. The firm has a fifty day simple moving average of $207.73 and a 200 day simple moving average of $202.71. The stock has a market capitalization of $104.26 billion, a price-to-earnings ratio of 94.10, a P/E/G ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the business earned $2.29 earnings per share. American Tower's revenue was up 3.7% compared to the same quarter last year. Research analysts predict 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. Shareholders of record on Friday, April 11th will be given a dividend of $1.70 per share. This is a boost from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Friday, April 11th. American Tower's dividend payout ratio (DPR) is presently 141.37%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a report on Monday, January 27th. Wells Fargo & Company raised shares of American Tower from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $210.00 to $230.00 in a report on Monday, March 17th. JMP Securities assumed coverage on shares of American Tower in a research report on Monday, January 27th. They set an "outperform" rating and a $225.00 price target on the stock. Citigroup lifted their price objective on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a report on Monday, March 10th. Finally, Mizuho reduced 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. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $232.07.

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.