Quantinno Capital Management LP Acquires 18,173 Shares of American Tower Co. (NYSE:AMT)

Quantinno Capital Management LP boosted its position in shares of American Tower Co. (NYSE:AMT) by 82.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 40,228 shares of the real estate investment trust’s stock after acquiring an additional 18,173 shares during the quarter. Quantinno Capital Management LP’s holdings in American Tower were worth $7,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. Norges Bank bought a new stake in American Tower during the 4th quarter worth approximately $1,164,851,000. Cohen & Steers Inc. raised its stake in American Tower by 21.8% during the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock worth $3,516,890,000 after acquiring an additional 3,437,602 shares during the period. Capital Research Global Investors raised its stake in American Tower by 66.5% during the 4th 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 acquiring an additional 3,421,413 shares during the period. Capital World Investors raised its stake in American Tower by 160.6% during the 4th quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust’s stock worth $902,396,000 after acquiring an additional 3,032,005 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in American Tower during the 4th quarter worth approximately $193,246,000. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 3.4%

AMT stock opened at $211.55 on Friday. The firm has a fifty day moving average price of $214.87 and a 200 day moving average price of $201.63. American Tower Co. has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $99.03 billion, a PE ratio of 89.26, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86.

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

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders 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 3.21%. American Tower’s payout ratio is 174.81%.

Analysts Set New Price Targets

AMT has been the topic of a number of recent analyst reports. Citigroup raised their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Wells Fargo & Company lifted their price objective on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Barclays lifted their price objective 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. Raymond James lifted their price objective on shares of American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a research report on Wednesday, April 30th. Finally, UBS Group lifted their price objective on shares of American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $239.27.

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.