Simon Quick Advisors LLC Acquires 248 Shares of American Tower Co. (NYSE:AMT)

Simon Quick Advisors LLC lifted its holdings in American Tower Co. (NYSE:AMT) by 17.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,702 shares of the real estate investment trust’s stock after purchasing an additional 248 shares during the quarter. Simon Quick Advisors LLC’s holdings in American Tower were worth $370,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AMT. Norges Bank bought a new stake in shares of American Tower in the fourth quarter worth $1,164,851,000. Cohen & Steers Inc. lifted its position in shares of American Tower by 21.8% in the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock worth $3,516,890,000 after purchasing an additional 3,437,602 shares in the last quarter. Capital Research Global Investors lifted its position in shares of American Tower by 66.5% in the fourth 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 purchasing an additional 3,421,413 shares in the last quarter. Capital World Investors lifted its position in shares of American Tower by 160.6% in the fourth quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust’s stock worth $902,396,000 after purchasing an additional 3,032,005 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in American Tower by 23,627.3% during the first quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust’s stock worth $370,346,000 after buying an additional 1,694,784 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 1.4%

Shares of American Tower stock opened at $214.76 on Friday. The firm has a 50-day moving average of $214.91 and a 200-day moving average of $203.08. The stock has a market cap of $100.54 billion, a PE ratio of 90.62, a PEG ratio of 1.29 and a beta of 0.81. American Tower Co. has a 52-week low of $172.51 and a 52-week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.79 earnings per share. As a group, sell-side analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm 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 $1.70 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.17%. American Tower’s payout ratio is presently 174.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Bank of America assumed coverage on shares of American Tower in a report on Monday, May 19th. They set a “buy” rating and a $255.00 target price on the stock. UBS Group boosted their target price on shares of American Tower from $245.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. JMP Securities boosted their target price on shares of American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company boosted their target price on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a 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 assigned a strong buy rating to the stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Buy” and an average 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.