Lido Advisors LLC Boosts Holdings in American Tower Co. (NYSE:AMT)

Lido Advisors LLC grew its stake in American Tower Co. (NYSE:AMT) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,898 shares of the real estate investment trust’s stock after buying an additional 7,313 shares during the period. Lido Advisors LLC’s holdings in American Tower were worth $21,626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Cohen & Steers Inc. lifted its stake in shares of American Tower by 21.8% during the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock worth $3,516,890,000 after buying an additional 3,437,602 shares during the period. Geode Capital Management LLC lifted its stake in shares of American Tower by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust’s stock worth $2,074,956,000 after buying an additional 129,192 shares during the period. FMR LLC lifted its stake in shares of American Tower by 5.0% during the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust’s stock worth $2,050,390,000 after buying an additional 537,136 shares during the period. Capital Research Global Investors lifted its stake in shares of American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock worth $1,570,547,000 after buying an additional 3,421,413 shares during the period. Finally, Norges Bank acquired a new stake in shares of American Tower during the fourth quarter worth $1,164,851,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Morgan Stanley started coverage on shares of American Tower in a research note on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price objective for the company. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Citigroup boosted their target price on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Finally, Barclays boosted their target price on shares of 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, twelve have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $233.07.

American Tower Price Performance

AMT stock opened at $210.64 on Monday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The business has a 50 day simple moving average of $210.83 and a 200-day simple moving average of $202.00. The firm has a market capitalization of $98.47 billion, a PE ratio of 88.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly 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. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.29 earnings per share. Equities research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.23%. This is a positive change from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s dividend payout ratio is presently 141.37%.

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.