LM Advisors LLC Purchases 930 Shares of American Tower Co. (NYSE:AMT)

LM Advisors LLC increased its position in American Tower Co. (NYSE:AMT) by 86.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,002 shares of the real estate investment trust’s stock after purchasing an additional 930 shares during the quarter. LM Advisors LLC’s holdings in American Tower were worth $370,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Partners Group Holding AG lifted 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 valued at $69,438,000 after acquiring an additional 28,988 shares during the period. TigerOak Management L.L.C. bought a new position in shares of American Tower during the fourth quarter valued at $1,102,000. Aviva PLC lifted its holdings in shares of American Tower by 13.4% during the fourth 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 lifted its holdings in shares of American Tower by 16.9% during the fourth quarter. LGT Group Foundation now owns 42,608 shares of the real estate investment trust’s stock valued at $7,815,000 after acquiring an additional 6,165 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of American Tower during the fourth quarter valued at $193,246,000. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AMT shares. Morgan Stanley initiated coverage on American Tower in a report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price objective for the company. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. UBS Group raised their target price on American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Royal Bank of Canada raised their target price on American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Finally, Barclays raised their target price on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Two research 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $240.25.

American Tower Price Performance

Shares of AMT stock opened at $211.89 on Tuesday. The stock has a 50-day moving average price of $215.18 and a 200 day moving average price of $201.78. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $99.19 billion, a price-to-earnings ratio of 89.41, a PEG ratio of 1.29 and a beta of 0.86. American Tower Co. has a 12 month low of $172.51 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.34. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.79 EPS. Research analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.21%. 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.