Dividend Assets Capital LLC Has $9.64 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Dividend Assets Capital LLC lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 17.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,314 shares of the real estate investment trust’s stock after buying an additional 6,593 shares during the period. American Tower comprises 1.8% of Dividend Assets Capital LLC’s holdings, making the stock its 19th largest position. Dividend Assets Capital LLC’s holdings in American Tower were worth $9,643,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Cohen & Steers Inc. raised its holdings in shares of American Tower by 21.8% in the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock valued at $3,516,890,000 after purchasing an additional 3,437,602 shares during the period. Geode Capital Management LLC raised its holdings in shares of American Tower by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust’s stock valued at $2,074,956,000 after purchasing an additional 129,192 shares during the period. FMR LLC raised its holdings in shares of American Tower by 5.0% in the 4th quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust’s stock valued at $2,050,390,000 after purchasing an additional 537,136 shares during the period. Capital Research Global Investors raised its holdings in shares of American Tower by 66.5% in the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock valued at $1,570,547,000 after purchasing an additional 3,421,413 shares during the period. Finally, Norges Bank bought a new stake in shares of American Tower in the 4th quarter valued at about $1,164,851,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Up 0.1%

Shares of AMT opened at $212.81 on Tuesday. 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 $215.00 and its 200-day moving average is $202.85. The stock has a market capitalization of $99.62 billion, a PE ratio of 89.79, a P/E/G ratio of 1.29 and a beta of 0.81. 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 earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping 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 company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the firm earned $2.79 earnings per share. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. Equities research analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors 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 3.20%. American Tower’s dividend payout ratio is 174.81%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Citigroup upped their target price 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. Raymond James increased their price target on shares of American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Royal Bank of Canada increased their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Finally, 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. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $240.25.

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.