Mirabella Financial Services LLP Makes New $3.42 Million Investment in American Tower Co. (NYSE:AMT)

Mirabella Financial Services LLP bought a new position in American Tower Co. (NYSE:AMT) during the fourth quarter, HoldingsChannel reports. The fund bought 18,651 shares of the real estate investment trust’s stock, valued at approximately $3,421,000.

Several other hedge funds have also bought and sold shares of the stock. Partners Group Holding AG grew its stake in shares of American Tower by 8.3% during the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock valued at $69,438,000 after acquiring an additional 28,988 shares during the period. Nordea Investment Management AB increased its stake in shares of American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after purchasing an additional 314,769 shares in the last quarter. TigerOak Management L.L.C. purchased a new position in shares of American Tower during the 4th quarter valued at $1,102,000. Brookstone Capital Management increased its stake in American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after buying an additional 1,995 shares in the last quarter. Finally, CCLA Investment Management lifted its position in shares of American Tower by 5.5% in the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock valued at $79,344,000 after acquiring an additional 22,523 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AMT. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. BMO Capital Markets raised their target price on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. 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. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $210.00 to $230.00 in a report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $232.07.

American Tower Stock Performance

Shares of NYSE:AMT opened at $223.03 on Friday. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm’s 50-day moving average is $208.33 and its 200 day moving average is $202.44. The company has a market capitalization of $104.26 billion, a price-to-earnings ratio of 94.10, a PEG ratio of 1.29 and a beta of 0.87. 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 data 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 return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the business earned $2.29 EPS. American Tower’s revenue was up 3.7% compared to the same quarter last year. Research analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

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

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.