Tpg Gp A LLC Has $50.78 Million Holdings in American Tower Co. (NYSE:AMT)

Tpg Gp A LLC increased its holdings in shares of American Tower Co. (NYSE:AMT) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 276,861 shares of the real estate investment trust’s stock after acquiring an additional 8,281 shares during the quarter. American Tower makes up 0.8% of Tpg Gp A LLC’s portfolio, making the stock its 25th biggest position. Tpg Gp A LLC’s holdings in American Tower were worth $50,779,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AMT. Assenagon Asset Management S.A. raised its stake in American Tower by 1.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 17,107 shares of the real estate investment trust’s stock worth $3,138,000 after buying an additional 250 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of American Tower by 11.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,070 shares of the real estate investment trust’s stock valued at $563,000 after purchasing an additional 305 shares during the period. Merit Financial Group LLC raised its stake in shares of American Tower by 184.6% in the 4th quarter. Merit Financial Group LLC now owns 6,874 shares of the real estate investment trust’s stock valued at $1,261,000 after purchasing an additional 4,459 shares during the period. Premier Path Wealth Partners LLC raised its stake in shares of American Tower by 8.8% in the 4th quarter. Premier Path Wealth Partners LLC now owns 3,303 shares of the real estate investment trust’s stock valued at $606,000 after purchasing an additional 268 shares during the period. Finally, HB Wealth Management LLC raised its stake in shares of American Tower by 4.2% in the 4th quarter. HB Wealth Management LLC now owns 32,609 shares of the real estate investment trust’s stock valued at $5,981,000 after purchasing an additional 1,304 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT opened at $213.24 on Monday. American Tower Co. has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $99.83 billion, a price-to-earnings ratio of 89.97, a PEG ratio of 1.29 and a beta of 0.86. The business has a 50-day moving average of $214.94 and a 200-day moving average of $201.47.

American Tower (NYSE:AMT) last posted 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 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. American Tower’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, sell-side analysts predict that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Friday, June 13th. American Tower’s payout ratio is currently 174.81%.

Analysts Set New Price Targets

Several research firms have issued reports on AMT. Wells Fargo & Company lifted their price target on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. JMP Securities lifted their price target 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. BMO Capital Markets lifted their price target on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. UBS Group lifted their price target on American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley started coverage on American Tower in a report on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 price objective for the company. Two 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price 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.