American Tower Co. (NYSE:AMT) Shares Purchased by Two Sigma Investments LP

Two Sigma Investments LP increased its stake in shares of American Tower Co. (NYSE:AMT) by 480.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 92,636 shares of the real estate investment trust’s stock after acquiring an additional 76,668 shares during the period. Two Sigma Investments LP’s holdings in American Tower were worth $16,990,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cohen & Steers Inc. lifted 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 worth $3,516,890,000 after acquiring an additional 3,437,602 shares in the last quarter. Geode Capital Management LLC lifted its position in American Tower by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust’s stock worth $2,074,956,000 after acquiring an additional 129,192 shares in the last quarter. FMR LLC lifted its position in American Tower by 5.0% during the 4th quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust’s stock worth $2,050,390,000 after acquiring an additional 537,136 shares in the last quarter. Capital Research Global Investors lifted its position in American Tower by 66.5% during the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock worth $1,570,547,000 after acquiring an additional 3,421,413 shares in the last quarter. Finally, Norges Bank purchased a new stake in American Tower during the 4th quarter worth approximately $1,164,851,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Scotiabank lifted their price objective on American Tower from $234.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 30th. Wells Fargo & Company lifted their price objective on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. UBS Group lifted their price objective on American Tower from $245.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Bank of America assumed coverage on American Tower in a report on Monday. They set a “buy” rating and a $255.00 price objective on the stock. Finally, Citigroup lifted their price objective on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, American Tower currently has a consensus rating of “Buy” and a consensus target price of $240.25.

American Tower Price Performance

Shares of NYSE AMT opened at $210.27 on Friday. The company has a market capitalization of $98.43 billion, a price-to-earnings ratio of 88.72, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The business has a 50 day simple moving average of $215.27 and a 200-day simple moving average of $201.66. 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 Co. has a twelve month low of $172.51 and a twelve month high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.79 EPS. As a group, equities research analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business 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 dividend of $1.70 per share. The ex-dividend date is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.23%. American Tower’s payout ratio is currently 174.81%.

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.