LGT Financial Advisors LLC Purchases Shares of 575 American Tower Co. (NYSE:AMT)

LGT Financial Advisors LLC purchased a new stake in American Tower Co. (NYSE:AMT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 575 shares of the real estate investment trust’s stock, valued at approximately $105,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AMT. Norges Bank purchased a new position in shares of American Tower during the 4th quarter valued at about $1,164,851,000. Cohen & Steers Inc. boosted its position 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 valued at $3,516,890,000 after buying an additional 3,437,602 shares during the period. Capital Research Global Investors increased its position in shares of American Tower by 66.5% in the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock valued at $1,570,547,000 after acquiring an additional 3,421,413 shares during the period. Capital World Investors increased its holdings 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 valued at $902,396,000 after purchasing an additional 3,032,005 shares during the period. Finally, Raymond James Financial Inc. bought a new position in American Tower during the 4th quarter valued at approximately $193,246,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 2.0 %

American Tower stock opened at $225.67 on Thursday. American Tower Co. has a one year low of $171.50 and a one year high of $243.56. The stock has a market cap of $105.49 billion, a PE ratio of 95.22, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. 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 stock has a 50-day moving average of $212.54 and a two-hundred day moving average of $202.24.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.54 billion. During the same quarter last year, the company posted $2.79 earnings per share. The firm’s revenue was down 9.6% compared to the same quarter last year. On average, research analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, April 11th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.01%. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend was Friday, April 11th. American Tower’s payout ratio is presently 141.37%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AMT shares. Scotiabank increased their target price on American Tower from $234.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. UBS Group boosted their target price on American Tower from $245.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho dropped their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. JMP Securities upped 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. Finally, Morgan Stanley started coverage on American Tower in a research report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price objective on the stock. 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 MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $238.33.

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.