Safe Harbor Fiduciary LLC Acquires 58 Shares of American Tower Co. (NYSE:AMT)

Safe Harbor Fiduciary LLC grew its position in American Tower Co. (NYSE:AMT) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,330 shares of the real estate investment trust’s stock after acquiring an additional 58 shares during the quarter. American Tower accounts for about 1.0% of Safe Harbor Fiduciary LLC’s holdings, making the stock its 25th largest position. Safe Harbor Fiduciary LLC’s holdings in American Tower were worth $978,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Partners Group Holding AG raised its holdings in shares of American Tower by 8.3% during the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock worth $69,438,000 after acquiring an additional 28,988 shares during the period. TigerOak Management L.L.C. bought a new stake in shares of American Tower in the fourth quarter valued at about $1,102,000. Aviva PLC lifted its position in shares of American Tower by 13.4% during the 4th quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust’s stock valued at $71,252,000 after acquiring an additional 46,009 shares during the period. LGT Group Foundation boosted its holdings in shares of American Tower by 16.9% in the 4th quarter. LGT Group Foundation now owns 42,608 shares of the real estate investment trust’s stock valued at $7,815,000 after purchasing an additional 6,165 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of American Tower in the 4th quarter valued at approximately $193,246,000. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

AMT opened at $213.24 on Friday. The company has a 50-day moving average of $214.94 and a 200-day moving average of $201.63. The company has a market capitalization of $99.83 billion, a P/E ratio of 89.97, a PEG ratio of 1.29 and a beta of 0.86. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the business earned $2.79 EPS. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. Equities analysts expect 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. Shareholders of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s payout ratio is presently 174.81%.

Analysts Set New Price Targets

A number of research firms have recently commented on AMT. Raymond James upped their price objective on shares of American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. JMP Securities increased their price objective on American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 30th. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company boosted their target price on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, American Tower has a consensus rating of “Buy” and a consensus target price of $239.27.

About American Tower

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.