LRI Investments LLC Increases Holdings in American Tower Co. (NYSE:AMT)

LRI Investments LLC boosted its position in American Tower Co. (NYSE:AMT) by 39.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 702 shares of the real estate investment trust’s stock after buying an additional 200 shares during the period. LRI Investments LLC’s holdings in American Tower were worth $129,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Roxbury Financial LLC purchased a new stake in shares of American Tower in the 4th quarter valued at $32,000. Graney & King LLC acquired a new position in American Tower during the fourth quarter valued at $32,000. Crowley Wealth Management Inc. purchased a new stake in American Tower in the fourth quarter valued at $37,000. Bank of Jackson Hole Trust acquired a new stake in American Tower during the 4th quarter worth about $46,000. Finally, Kestra Investment Management LLC purchased a new position in shares of American Tower during the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 5.5%

NYSE AMT opened at $207.81 on Tuesday. The business has a fifty day moving average price of $215.11 and a 200 day moving average price of $201.66. 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 company has a market cap of $97.14 billion, a P/E ratio of 87.68, a P/E/G ratio of 1.29 and a beta of 0.86. American Tower Co. has a one year low of $172.51 and a one year high of $243.56.

American Tower (NYSE:AMT) last released its 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. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.79 earnings per share. Research analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, April 11th were issued a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date was Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.27%. American Tower’s dividend payout ratio is presently 174.81%.

Analyst Ratings Changes

A number of analysts have recently commented on AMT shares. Scotiabank upped their target price on American Tower from $234.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 30th. Barclays upped their price objective on American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. UBS Group lifted their target price on shares of American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. JMP Securities increased their price target 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, Royal Bank of Canada upped their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target 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.