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

Navalign LLC increased its holdings in American Tower Co. (NYSE:AMT) by 2.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,689 shares of the real estate investment trust’s stock after purchasing an additional 134 shares during the period. Navalign LLC’s holdings in American Tower were worth $860,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Glenview Trust co increased its holdings in shares of American Tower by 0.8% in the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock worth $1,294,000 after buying an additional 54 shares during the period. CreativeOne Wealth LLC increased its position in shares of American Tower by 2.1% in the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust’s stock valued at $477,000 after acquiring an additional 54 shares during the period. Precedent Wealth Partners LLC raised its stake in shares of American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 58 shares during the last quarter. Safe Harbor Fiduciary LLC boosted its holdings in shares of American Tower by 1.1% during the fourth quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust’s stock worth $978,000 after purchasing an additional 58 shares during the period. Finally, Resonant Capital Advisors LLC grew its stake in shares of American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of several research analyst reports. Bank of America began coverage on American Tower in a report on Monday. They issued a “buy” rating and a $255.00 price objective for the company. Barclays raised their target price on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. BMO Capital Markets boosted their price target on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. JMP Securities lifted their price objective on American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 30th. Finally, Royal Bank of Canada upped their target price on American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $240.25.

American Tower Trading Down 0.7%

NYSE AMT opened at $213.94 on Thursday. American Tower Co. has a 12 month low of $172.51 and a 12 month 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. The stock’s fifty day moving average price is $215.33 and its 200-day moving average price is $201.67. The stock has a market cap of $100.15 billion, a P/E ratio of 90.27, a P/E/G ratio of 1.29 and a beta of 0.86.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) 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 company 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 business posted $2.79 EPS. American Tower’s revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a $1.70 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.18%. American Tower’s dividend payout ratio is presently 174.81%.

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.