Natixis Takes $27.25 Million Position in American Tower Co. (NYSE:AMT)

Natixis purchased a new position in shares of American Tower Co. (NYSE:AMT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 148,581 shares of the real estate investment trust's stock, valued at approximately $27,251,000.

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

American Tower Stock Performance

Shares of AMT traded down $1.32 during trading hours on Thursday, reaching $211.29. 1,464,558 shares of the company traded hands, compared to its average volume of 2,476,842. The stock has a market capitalization of $98.77 billion, a P/E ratio of 89.20, a P/E/G ratio of 1.29 and a beta of 0.87. 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 business has a fifty day moving average price of $209.98 and a 200-day moving average price of $202.42. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last released 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. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. The company's revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that American Tower Co. will post 10.14 EPS 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 $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Friday, April 11th. This is a boost from American Tower's previous quarterly dividend of $1.62. American Tower's payout ratio is 141.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AMT shares. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley assumed coverage on shares of American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective for the company. Wells Fargo & Company raised American Tower from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $210.00 to $230.00 in a research report on Monday, March 17th. BMO Capital Markets boosted their price target on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, Barclays upped their price objective on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, American Tower currently has an average rating of "Buy" and a consensus price target of $233.07.

About American Tower

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.