Sagespring Wealth Partners LLC bought a new position in shares of American Tower Co. (NYSE:AMT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,163 shares of the real estate investment trust's stock, valued at approximately $580,000.
Other large investors have also modified their holdings of the company. Partners Group Holding AG grew its stake in American Tower by 8.3% during the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock valued at $69,438,000 after acquiring 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 fourth 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 purchasing an additional 314,769 shares in the last quarter. TigerOak Management L.L.C. acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $1,102,000. Brookstone Capital Management lifted its position in American Tower by 29.0% during the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock worth $1,629,000 after buying an additional 1,995 shares in the last quarter. Finally, CCLA Investment Management boosted its stake in American Tower by 5.5% during the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust's stock worth $79,344,000 after buying an additional 22,523 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.
Analyst Ratings Changes
A number of analysts have issued reports on the company. Citizens Jmp raised American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Wells Fargo & Company raised shares of American Tower from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $210.00 to $230.00 in a research note on Monday, March 17th. Citigroup increased their price target on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. JMP Securities started coverage on shares of American Tower in a research report on Monday, January 27th. They set an "outperform" rating and a $225.00 price target on the stock. Finally, Barclays upped their price objective on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $232.07.
Check Out Our Latest Research Report on American Tower
American Tower Trading Up 2.3 %
American Tower stock traded up $5.03 during midday trading on Friday, reaching $223.03. 2,599,002 shares of the stock traded hands, compared to its average volume of 2,462,013. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $104.26 billion, a PE ratio of 94.10, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The company has a 50-day simple moving average of $207.73 and a two-hundred day simple moving average of $202.71. 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 announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share 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 firm had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same quarter in the previous year, the business posted $2.29 earnings per share. The business's quarterly revenue was up 3.7% compared to the same quarter last year. Research analysts expect that American Tower Co. will post 10.14 earnings per share 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 given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.05%. This is a positive change from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio is currently 141.37%.
About American Tower
(
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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