Capital International Inc. CA Increases Stake in American Tower Co. (NYSE:AMT)

Capital International Inc. CA lifted its position in American Tower Co. (NYSE:AMT - Free Report) by 40.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 28,237 shares of the real estate investment trust's stock after purchasing an additional 8,115 shares during the period. Capital International Inc. CA's holdings in American Tower were worth $5,179,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on AMT shares. Morgan Stanley started coverage on shares of American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price target on the stock. Barclays lifted their target price on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Scotiabank increased their price target on shares of American Tower from $220.00 to $234.00 and gave the stock a "sector outperform" rating in a research note on Tuesday. Mizuho cut their price objective on American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company upgraded American Tower from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $210.00 to $230.00 in a research note on Monday, March 17th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, American Tower presently has an average rating of "Buy" and a consensus target price of $233.07.

American Tower Stock Down 0.8 %

Shares of NYSE:AMT traded down $1.65 during trading on Thursday, reaching $210.95. 2,885,488 shares of the stock traded hands, compared to its average volume of 2,482,145. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a market cap of $98.61 billion, a P/E ratio of 89.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The stock has a 50-day moving average of $209.98 and a two-hundred day moving average of $202.42. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT - Get Free Report) last posted its 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. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.29 EPS. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.22%. This is a boost from American Tower's previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower's payout ratio is presently 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.