Integrated Wealth Concepts LLC Boosts Position in American Tower Co. (NYSE:AMT)

Integrated Wealth Concepts LLC raised its position in American Tower Co. (NYSE:AMT - Free Report) by 33.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,095 shares of the real estate investment trust's stock after purchasing an additional 9,700 shares during the quarter. Integrated Wealth Concepts LLC's holdings in American Tower were worth $7,170,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMT. Graney & King LLC bought a new position in shares of American Tower during the 4th quarter worth about $32,000. Roxbury Financial LLC bought a new stake in American Tower in the fourth quarter valued at about $32,000. Crowley Wealth Management Inc. acquired a new position in American Tower in the fourth quarter worth about $37,000. Bank of Jackson Hole Trust bought a new position in American Tower during the fourth quarter worth about $46,000. Finally, Kestra Investment Management LLC acquired a new stake in American Tower during the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company raised American Tower from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $210.00 to $230.00 in a report on Monday, March 17th. Morgan Stanley began coverage on shares of American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price objective on the stock. Scotiabank reiterated an "outperform" rating on shares of American Tower in a research report on Tuesday, April 22nd. BMO Capital Markets raised their price target on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Finally, 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 objective on the stock. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $233.07.

American Tower Trading Down 0.0 %

Shares of American Tower stock traded down $0.01 on Monday, hitting $210.81. 3,390,231 shares of the company's stock traded hands, compared to its average volume of 2,489,122. The company has a market capitalization of $98.54 billion, a price-to-earnings ratio of 88.95, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a fifty day moving average of $210.83 and a two-hundred day moving average of $202.00. 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 (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 company had revenue of $2.55 billion for 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%. American Tower's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.29 earnings per share. As a group, sell-side analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a $1.70 dividend. This is an increase 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 3.23%. The ex-dividend date is Friday, April 11th. American Tower's payout ratio is 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.