Gotham Asset Management LLC Has $17.38 Million Position in American Tower Co. (NYSE:AMT)

Gotham Asset Management LLC increased its holdings in shares of American Tower Co. (NYSE:AMT) by 61.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,755 shares of the real estate investment trust’s stock after buying an additional 36,121 shares during the period. Gotham Asset Management LLC’s holdings in American Tower were worth $17,379,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its position in American Tower by 17.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 702 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 106 shares during the period. Czech National Bank raised its stake in American Tower by 6.5% during the fourth quarter. Czech National Bank now owns 101,318 shares of the real estate investment trust’s stock worth $18,583,000 after buying an additional 6,169 shares during the last quarter. Fiduciary Alliance LLC lifted its holdings in American Tower by 188.3% in the fourth quarter. Fiduciary Alliance LLC now owns 4,950 shares of the real estate investment trust’s stock valued at $908,000 after buying an additional 3,233 shares during the period. Trust Co. of Toledo NA OH boosted its position in American Tower by 4.9% during the fourth quarter. Trust Co. of Toledo NA OH now owns 8,228 shares of the real estate investment trust’s stock valued at $1,509,000 after acquiring an additional 382 shares during the last quarter. Finally, Brookstone Capital Management grew its holdings in American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after acquiring an additional 1,995 shares during the period. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

American Tower stock opened at $219.96 on Friday. American Tower Co. has a 52 week low of $172.51 and a 52 week high of $243.56. The company’s 50 day moving average price is $215.14 and its two-hundred day moving average price is $201.94. The stock has a market cap of $102.82 billion, a P/E ratio of 92.81, 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 issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the company posted $2.79 earnings per share. American Tower’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, equities analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, April 11th were given a dividend of $1.70 per share. This is an increase from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Friday, April 11th. American Tower’s dividend payout ratio is currently 174.81%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMT. Citigroup upped their target price on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, March 10th. UBS Group raised their price objective on shares of American Tower from $245.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. JMP Securities boosted their target price on shares of American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 30th. Barclays raised their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Finally, BMO Capital Markets lifted their price target on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, American Tower currently has an average rating of “Buy” and a consensus price target of $239.27.

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.