J. Stern & Co. LLP grew its stake in American Tower Co. (NYSE:AMT - Free Report) by 5.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 122,576 shares of the real estate investment trust's stock after buying an additional 6,118 shares during the quarter. American Tower accounts for approximately 2.1% of J. Stern & Co. LLP's portfolio, making the stock its 20th biggest position. J. Stern & Co. LLP's holdings in American Tower were worth $22,482,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Partners Group Holding AG boosted its holdings in American Tower by 8.3% in the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock valued at $69,438,000 after purchasing an additional 28,988 shares in the last quarter. Nordea Investment Management AB grew its position in shares of American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust's stock valued at $260,743,000 after buying an additional 314,769 shares during the last quarter. TigerOak Management L.L.C. acquired a new stake in American Tower during the 4th quarter worth $1,102,000. Brookstone Capital Management lifted its position in American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock valued at $1,629,000 after acquiring an additional 1,995 shares during the last quarter. Finally, CCLA Investment Management boosted its stake in American Tower by 5.5% in the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust's stock valued at $79,344,000 after acquiring an additional 22,523 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.
American Tower Price Performance
Shares of AMT traded down $0.01 during trading hours on Monday, reaching $210.81. The company had a trading volume of 3,356,931 shares, compared to its average volume of 2,488,989. The company has a market capitalization of $98.54 billion, a price-to-earnings ratio of 88.95, a PEG ratio of 1.29 and a beta of 0.87. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The firm has a 50 day simple moving average of $210.83 and a 200-day simple moving average of $202.00. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.
American Tower (NYSE:AMT - Get Free Report) last posted its quarterly 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. 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 the consensus estimate of $2.51 billion. During the same period last year, the firm earned $2.29 EPS. The company's revenue for the quarter was up 3.7% on a year-over-year basis. Research analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.
American Tower Increases Dividend
The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.23%. American Tower's payout ratio is currently 141.37%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on AMT. BMO Capital Markets raised their price target on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Scotiabank reiterated an "outperform" rating on shares of American Tower in a research report on Tuesday, April 22nd. Citigroup raised their price objective on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. JMP Securities started coverage on shares of American Tower in a report on Monday, January 27th. They issued an "outperform" rating and a $225.00 target price for the company. Finally, Hsbc Global Res raised American Tower to a "strong-buy" rating in a report on Thursday, February 27th. 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 stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $233.07.
Check Out Our Latest Analysis on AMT
American Tower Profile
(
Free Report)
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.
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