Mather Group LLC. lowered its holdings in shares of American Tower Co. (NYSE:AMT – Get Rating) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,738 shares of the real estate investment trust’s stock after selling 385 shares during the quarter. Mather Group LLC.’s holdings in American Tower were worth $1,216,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. New England Capital Financial Advisors LLC purchased a new position in American Tower during the fourth quarter worth approximately $26,000. Pinnacle Holdings LLC purchased a new position in American Tower during the first quarter worth approximately $29,000. Eagle Bay Advisors LLC purchased a new position in American Tower during the second quarter worth approximately $30,000. EWG Elevate Inc. purchased a new position in shares of American Tower in the fourth quarter valued at approximately $25,000. Finally, J.Safra Asset Management Corp lifted its position in shares of American Tower by 629.4% in the fourth quarter. J.Safra Asset Management Corp now owns 124 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 89.65% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on AMT. Barclays raised their target price on American Tower from $229.00 to $233.00 in a research report on Monday, May 1st. Morgan Stanley decreased their target price on American Tower from $224.00 to $215.00 in a research report on Tuesday, April 18th. Deutsche Bank Aktiengesellschaft decreased their target price on American Tower from $254.00 to $245.00 in a research report on Tuesday, March 7th. Moffett Nathanson upgraded American Tower from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $244.00 to $234.00 in a research report on Thursday, March 30th. Finally, Raymond James raised their target price on American Tower from $227.00 to $238.00 in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $254.56.
American Tower Price Performance
AMT stock opened at $192.89 on Friday. The business has a fifty day moving average of $195.64 and a two-hundred day moving average of $205.66. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 2.83. The stock has a market cap of $89.89 billion, a price-to-earnings ratio of 64.30, a price-to-earnings-growth ratio of 1.35 and a beta of 0.57. American Tower Co. has a 52-week low of $178.17 and a 52-week high of $282.47.
American Tower (NYSE:AMT – Get Rating) last posted its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($1.56). American Tower had a return on equity of 11.65% and a net margin of 12.85%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period last year, the business earned $2.55 EPS. American Tower’s revenue was up 4.0% compared to the same quarter last year. As a group, research analysts anticipate that American Tower Co. will post 9.24 earnings per share for the current year.
American Tower Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 10th. Stockholders of record on Friday, June 16th will be given a dividend of $1.57 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.56. This represents a $6.28 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Thursday, June 15th. American Tower’s dividend payout ratio (DPR) is currently 209.33%.
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 nearly 226,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
Further Reading
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