Capital World Investors Has $902.40 Million Stake in American Tower Co. (NYSE:AMT)

Capital World Investors boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 160.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,920,100 shares of the real estate investment trust’s stock after buying an additional 3,032,005 shares during the period. Capital World Investors’ holdings in American Tower were worth $902,396,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Roxbury Financial LLC acquired a new stake in shares of American Tower during the 4th quarter valued at about $32,000. Graney & King LLC bought a new position in American Tower during the fourth quarter worth about $32,000. Crowley Wealth Management Inc. acquired a new stake in American Tower during the fourth quarter valued at approximately $37,000. Bank of Jackson Hole Trust bought a new stake in shares of American Tower in the 4th quarter valued at approximately $46,000. Finally, Versant Capital Management Inc raised its holdings in shares of American Tower by 113.9% in the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 139 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 2.3 %

AMT stock opened at $223.03 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a market cap of $104.26 billion, a P/E ratio of 94.10, a PEG ratio of 1.29 and a beta of 0.87. The business has a fifty day moving average of $208.33 and a 200-day moving average of $202.44.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) 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 company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the company posted $2.29 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is currently 141.37%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Citigroup boosted their price target on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Mizuho dropped their target price 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. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, Scotiabank dropped their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $232.07.

About American Tower

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.