Harber Asset Management LLC Acquires 14,498 Shares of American Tower Co. (NYSE:AMT)

Harber Asset Management LLC increased its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 21.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,391 shares of the real estate investment trust's stock after acquiring an additional 14,498 shares during the period. American Tower comprises approximately 4.5% of Harber Asset Management LLC's investment portfolio, making the stock its 8th largest holding. Harber Asset Management LLC's holdings in American Tower were worth $14,928,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AMT. Roxbury Financial LLC acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $32,000. Graney & King LLC acquired a new stake in American Tower during the 4th quarter valued at $32,000. Crowley Wealth Management Inc. acquired a new position in shares of American Tower in the fourth quarter valued at $37,000. Bank of Jackson Hole Trust bought a new position in shares of American Tower in the fourth quarter valued at about $46,000. Finally, Versant Capital Management Inc lifted its stake 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 last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 2.3 %

American Tower stock traded up $5.03 during trading hours on Friday, reaching $223.03. 2,599,002 shares of the company's stock were exchanged, compared to its average volume of 2,462,013. The firm's 50 day simple moving average is $207.73 and its 200 day simple moving average is $202.71. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $104.26 billion, a PE ratio of 94.10, a PEG ratio of 1.29 and a beta of 0.87.

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

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.05%. This is a positive change from American Tower's previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. American Tower's payout ratio is presently 141.37%.

Analysts Set New Price Targets

AMT has been the subject of a number of research analyst reports. Scotiabank reduced their price objective on American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a report on Thursday, January 23rd. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Citigroup boosted their price target on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Barclays increased their price objective 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. Finally, Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research note on Monday, January 27th. 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. According to MarketBeat, American Tower presently has an average rating of "Buy" and an average target price of $232.07.

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.