UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 233,242 Shares of American Tower Co. (NYSE:AMT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of American Tower Co. (NYSE:AMT) by 5.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,344,577 shares of the real estate investment trust’s stock after purchasing an additional 233,242 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in American Tower were worth $796,839,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Glenview Trust co lifted its stake in shares of American Tower by 0.8% in the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock valued at $1,294,000 after buying an additional 54 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in American Tower by 2.1% during the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust’s stock worth $477,000 after purchasing an additional 54 shares in the last quarter. Precedent Wealth Partners LLC raised its stake in shares of American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 58 shares during the last quarter. Safe Harbor Fiduciary LLC lifted its holdings in shares of American Tower by 1.1% in the fourth quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust’s stock valued at $978,000 after purchasing an additional 58 shares in the last quarter. Finally, Resonant Capital Advisors LLC grew its holdings in American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after buying an additional 61 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMT. JMP Securities raised their price objective on American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 30th. Morgan Stanley began coverage on shares of American Tower in a report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price target on the stock. Scotiabank increased their price objective on shares of American Tower from $234.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 30th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Barclays increased their price target on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $240.25.

American Tower Stock Performance

Shares of AMT opened at $215.11 on Tuesday. The stock’s 50-day simple moving average is $215.11 and its 200 day simple moving average is $201.49. The stock has a market capitalization of $100.70 billion, a price-to-earnings ratio of 90.76, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 52-week low of $172.51 and a 52-week high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.34. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.79 earnings per share. Research analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s dividend payout ratio is 174.81%.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.