IFM Investors Pty Ltd raised its position in American Tower Co. (NYSE:AMT – Get Rating) by 124.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,227 shares of the real estate investment trust’s stock after acquiring an additional 74,405 shares during the quarter. IFM Investors Pty Ltd’s holdings in American Tower were worth $33,721,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Cassady Schiller Wealth Management LLC acquired a new stake in American Tower in the fourth quarter valued at $25,000. Rational Advisors LLC lifted its stake in American Tower by 140.0% in the fourth quarter. Rational Advisors LLC now owns 84 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 49 shares during the last quarter. Sandy Cove Advisors LLC acquired a new stake in shares of American Tower during the 4th quarter worth about $27,000. Crewe Advisors LLC acquired a new stake in shares of American Tower during the 4th quarter worth about $28,000. Finally, First Personal Financial Services acquired a new stake in shares of American Tower during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 91.00% of the company’s stock.
Wall Street Analysts Forecast Growth
AMT has been the subject of a number of research reports. Bank of America initiated coverage on shares of American Tower in a research note on Sunday, June 5th. They set a “buy” rating and a $315.00 target price for the company. JPMorgan Chase & Co. raised shares of American Tower from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $245.00 to $285.00 in a research report on Tuesday, June 21st. KeyCorp lowered their price target on shares of American Tower from $286.00 to $283.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. Morgan Stanley lowered their price target on shares of American Tower from $268.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 20th. Finally, Citigroup lowered their price target on shares of American Tower from $300.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, July 18th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $291.00.
Insider Buying and Selling
American Tower Trading Up 0.7 %
AMT opened at $270.83 on Monday. The company’s 50 day moving average is $255.32 and its 200-day moving average is $247.66. American Tower Co. has a 1-year low of $220.00 and a 1-year high of $303.72. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 4.12. The company has a market cap of $125.85 billion, a P/E ratio of 46.86, a PEG ratio of 2.53 and a beta of 0.46.
American Tower (NYSE:AMT – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.99. American Tower had a net margin of 26.72% and a return on equity of 30.44%. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the company posted $2.42 EPS. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. Equities research analysts predict that American Tower Co. will post 9.55 earnings per share for the current fiscal year.
American Tower Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Friday, June 17th were given a dividend of $1.43 per share. The ex-dividend date was Thursday, June 16th. This is an increase from American Tower’s previous quarterly dividend of $1.40. This represents a $5.72 annualized dividend and a yield of 2.11%. American Tower’s dividend payout ratio (DPR) is currently 98.96%.
About American Tower
American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.
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