Sora Investors LLC Invests $20.88 Million in American Tower Co. (NYSE:AMT)

Sora Investors LLC bought a new stake in American Tower Co. (NYSE:AMT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 113,829 shares of the real estate investment trust’s stock, valued at approximately $20,877,000. American Tower makes up 2.3% of Sora Investors LLC’s holdings, making the stock its 13th biggest position.

A number of other institutional investors have also added to or reduced their stakes in the company. Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower during the 4th quarter worth about $29,000. Roxbury Financial LLC bought a new stake in shares of American Tower during the fourth quarter worth approximately $32,000. Graney & King LLC acquired a new position in shares of American Tower in the fourth quarter valued at approximately $32,000. Crowley Wealth Management Inc. bought a new position in shares of American Tower during the fourth quarter worth approximately $37,000. Finally, Bank of Jackson Hole Trust acquired a new stake in American Tower during the 4th quarter worth approximately $46,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 3.4%

Shares of American Tower stock opened at $211.55 on Friday. The firm’s 50 day moving average is $214.87 and its 200 day moving average is $201.63. The firm has a market capitalization 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 Co. has a 1 year low of $172.51 and a 1 year high of $243.56. 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 earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the firm posted $2.79 earnings per share. The company’s revenue was down 9.6% on a year-over-year basis. Equities research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.21%. American Tower’s dividend payout ratio (DPR) is currently 174.81%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMT. Citizens Jmp raised American Tower to a “strong-buy” rating in a report on Monday, January 27th. Raymond James raised their price target on shares of American Tower from $231.00 to $251.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Royal Bank of Canada boosted their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. JMP Securities raised their target price on shares of American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company increased their price target on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, American Tower currently has a consensus rating of “Buy” and a consensus target price 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.