Capital Research Global Investors Acquires 3,421,413 Shares of American Tower Co. (NYSE:AMT)

Capital Research Global Investors grew its holdings in American Tower Co. (NYSE:AMT - Free Report) by 66.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,563,046 shares of the real estate investment trust's stock after acquiring an additional 3,421,413 shares during the period. Capital Research Global Investors owned 1.83% of American Tower worth $1,570,547,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Roxbury Financial LLC acquired a new stake in shares of American Tower in the fourth quarter worth about $32,000. Graney & King LLC bought a new stake in American Tower during the fourth quarter worth approximately $32,000. Crowley Wealth Management Inc. bought a new position in shares of American Tower in the fourth quarter valued at approximately $37,000. Bank of Jackson Hole Trust acquired a new stake in shares of American Tower in the fourth quarter worth $46,000. Finally, Versant Capital Management Inc boosted its holdings in shares of American Tower by 113.9% during the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust's stock worth $48,000 after buying an additional 139 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMT. JMP Securities started coverage on American Tower in a research report on Monday, January 27th. They issued an "outperform" rating and a $225.00 price target on the stock. Citigroup raised their target price on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a report on Monday, March 10th. Morgan Stanley started coverage on American Tower in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective for the company. Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Finally, Mizuho reduced their price target on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, American Tower has an average rating of "Buy" and an average price target of $233.07.

American Tower Trading Down 0.5 %

Shares of NYSE AMT traded down $1.00 during midday trading on Thursday, hitting $211.61. The stock had a trading volume of 1,321,157 shares, compared to its average volume of 2,873,920. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm has a market cap of $98.92 billion, a P/E ratio of 89.28, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The company's 50-day simple moving average is $209.98 and its 200 day simple moving average is $202.42.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company's revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.29 EPS. Research analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be paid a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. 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 dividend yield of 3.21%. American Tower's payout ratio is 141.37%.

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.