33,764 Shares in American Tower Co. (NYSE:AMT) Purchased by Raiffeisen Bank International AG

Raiffeisen Bank International AG purchased a new position in shares of American Tower Co. (NYSE:AMT) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 33,764 shares of the real estate investment trust’s stock, valued at approximately $6,141,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMT. Harbor Capital Advisors Inc. boosted its position in American Tower by 17.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 702 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 106 shares during the period. Brookstone Capital Management boosted its position in American Tower by 29.0% during the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after purchasing an additional 1,995 shares during the period. Pines Wealth Management LLC bought a new position in American Tower during the fourth quarter worth $218,000. Assenagon Asset Management S.A. boosted its position in American Tower by 1.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 17,107 shares of the real estate investment trust’s stock worth $3,138,000 after purchasing an additional 250 shares during the period. Finally, Pinnacle Bancorp Inc. raised its holdings in American Tower by 8.9% in the 4th quarter. Pinnacle Bancorp Inc. now owns 934 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 76 shares during the period. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on AMT shares. BMO Capital Markets increased their price target on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Citigroup increased their price target on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. JMP Securities increased their price target on shares of American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a report on Wednesday, April 30th. Barclays increased their price target on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Finally, UBS Group increased their price target 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. Two investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $239.27.

American Tower Stock Up 3.4%

Shares of AMT opened at $211.55 on Friday. American Tower Co. has a 12 month low of $172.51 and a 12 month high of $243.56. The firm’s 50 day moving average is $214.87 and its 200-day moving average is $201.63. The stock has a market capitalization of $99.03 billion, a PE ratio of 89.26, a P/E/G ratio of 1.29 and a beta of 0.86. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the firm posted $2.79 earnings per share. Equities research analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.21%. American Tower’s dividend payout ratio (DPR) is 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.