American Tower Co. (NYSE:AMT) Position Raised by Everpar Advisors LLC

Everpar Advisors LLC increased its position in shares of American Tower Co. (NYSE:AMT) by 41.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,102 shares of the real estate investment trust’s stock after purchasing an additional 615 shares during the period. Everpar Advisors LLC’s holdings in American Tower were worth $457,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. Partners Group Holding AG increased its holdings in shares of American Tower by 8.3% in 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 buying an additional 28,988 shares in the last quarter. TigerOak Management L.L.C. bought a new position in shares of American Tower in the fourth quarter valued at $1,102,000. Aviva PLC increased its holdings in shares of American Tower by 13.4% in the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust’s stock valued at $71,252,000 after buying an additional 46,009 shares in the last quarter. LGT Group Foundation increased its holdings in shares of American Tower by 16.9% in 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 buying an additional 6,165 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of American Tower in the fourth quarter valued at $193,246,000. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on AMT shares. Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Citigroup upped their price target on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. JMP Securities upped their price target on American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a report on Wednesday, April 30th. Morgan Stanley assumed coverage on shares of American Tower in a research report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price objective on the stock. Finally, Scotiabank lifted their price objective on shares of American Tower from $234.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $240.25.

American Tower Trading Down 1.4%

American Tower stock opened at $214.76 on Friday. The company’s fifty day simple moving average is $214.91 and its 200-day simple moving average is $203.13. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12 month low of $172.51 and a 12 month high of $243.56. The stock has a market cap of $100.54 billion, a P/E ratio of 90.62, a P/E/G ratio of 1.29 and a beta of 0.81.

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, 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 business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the company posted $2.79 EPS. American Tower’s revenue was down 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Friday, June 13th. American Tower’s dividend payout ratio is currently 174.81%.

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.