Capital Analysts LLC Increases Position in American Tower Co. (NYSE:AMT)

Capital Analysts LLC increased its stake in shares of American Tower Co. (NYSE:AMT) by 19.2% in the fourth quarter, HoldingsChannel reports. The firm owned 50,877 shares of the real estate investment trust’s stock after buying an additional 8,197 shares during the period. Capital Analysts LLC’s holdings in American Tower were worth $9,331,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AMT. Voya Financial Advisors Inc. lifted its position in shares of American Tower by 3.4% during the fourth quarter. Voya Financial Advisors Inc. now owns 6,541 shares of the real estate investment trust’s stock valued at $1,190,000 after buying an additional 216 shares during the last quarter. Nebula Research & Development LLC purchased a new position in shares of American Tower in the 4th quarter worth approximately $1,083,000. Integrated Wealth Concepts LLC raised its stake in shares of American Tower by 33.0% during the 4th quarter. Integrated Wealth Concepts LLC now owns 39,095 shares of the real estate investment trust’s stock worth $7,170,000 after acquiring an additional 9,700 shares in the last quarter. Burling Wealth Partners LLC purchased a new stake in American Tower during the fourth quarter valued at approximately $4,750,000. Finally, J. Stern & Co. LLP boosted its stake in American Tower by 5.3% in the fourth quarter. J. Stern & Co. LLP now owns 122,576 shares of the real estate investment trust’s stock valued at $22,482,000 after acquiring an additional 6,118 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of NYSE AMT opened at $210.64 on Friday. The stock has a market cap of $98.47 billion, a price-to-earnings ratio of 88.88, 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 company has a 50 day simple moving average of $210.83 and a two-hundred day simple moving average of $202.24. 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) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating the consensus estimate 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 net margin of 10.05% and a return on equity of 22.01%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.29 earnings per share. As a group, analysts predict 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 given a dividend of $1.70 per share. This is a boost from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.23%. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

Wall Street Analyst Weigh In

AMT has been the topic of a number of recent analyst reports. BMO Capital Markets upped 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. Scotiabank reaffirmed an “outperform” rating on shares of American Tower in a research report on Tuesday. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company upgraded American Tower from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $210.00 to $230.00 in a research note on Monday, March 17th. Finally, Mizuho decreased their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Two investment 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 presently has a consensus rating of “Buy” and a consensus target price of $233.07.

American Tower Company 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.