Second Line Capital LLC Grows Stock Position in American Tower Co. (NYSE:AMT)

Second Line Capital LLC boosted its stake in American Tower Co. (NYSE:AMT) by 22.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,542 shares of the real estate investment trust’s stock after acquiring an additional 2,686 shares during the quarter. Second Line Capital LLC’s holdings in American Tower were worth $2,691,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMT. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower in the 4th quarter valued at approximately $29,000. Graney & King LLC acquired a new position in shares of American Tower in the 4th quarter valued at approximately $32,000. Roxbury Financial LLC acquired a new position in shares of American Tower in the 4th quarter valued at approximately $32,000. Crowley Wealth Management Inc. acquired a new position in shares of American Tower in the 4th quarter valued at approximately $37,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of American Tower in the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AMT shares. Wells Fargo & Company upped their target price on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. BMO Capital Markets upped their target price on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Raymond James upped their target price on 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, Barclays upped their price target on 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, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $239.27.

American Tower Trading Up 0.7%

Shares of AMT stock opened at $213.24 on Friday. The stock has a 50-day simple moving average of $214.94 and a 200 day simple moving average 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 stock has a market capitalization of $99.83 billion, a P/E ratio of 89.97, a P/E/G ratio of 1.29 and a beta of 0.86. 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 (NYSE:AMT) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the business posted $2.79 earnings per share. American Tower’s revenue was down 9.6% compared to the same quarter last year. On average, sell-side analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced 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 3.19%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s dividend payout ratio is 174.81%.

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.