6,948 Shares in American Tower Co. (NYSE:AMT) Acquired by Inscription Capital LLC

Inscription Capital LLC bought a new stake in shares of American Tower Co. (NYSE:AMT) during the 1st quarter, Holdings Channel reports. The firm bought 6,948 shares of the real estate investment trust’s stock, valued at approximately $1,512,000.

A number of other institutional investors also recently added to or reduced their stakes in AMT. Partners Group Holding AG lifted its holdings in 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 worth $69,438,000 after purchasing an additional 28,988 shares during the period. Aviva PLC raised its holdings in American Tower by 13.4% during the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust’s stock worth $71,252,000 after purchasing an additional 46,009 shares in the last quarter. LGT Group Foundation boosted its stake in American Tower by 16.9% during the 4th quarter. LGT Group Foundation now owns 42,608 shares of the real estate investment trust’s stock valued at $7,815,000 after purchasing an additional 6,165 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of American Tower during the 4th quarter valued at $193,246,000. Finally, Cbre Investment Management Listed Real Assets LLC raised its stake in shares of American Tower by 2.5% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 769,720 shares of the real estate investment trust’s stock worth $141,174,000 after buying an additional 18,555 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AMT. Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday, February 27th. BMO Capital Markets lifted their price objective on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Wells Fargo & Company increased their target price on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Scotiabank raised their target price on shares of American Tower from $234.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 30th. Finally, JMP Securities increased their price objective on American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 30th. Two research 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 stock currently has an average rating of “Buy” and an average price target of $240.25.

American Tower Stock Up 0.1%

Shares of American Tower stock opened at $215.00 on Tuesday. American Tower Co. has a 1 year low of $172.51 and a 1 year high of $243.56. The company has a market cap of $100.65 billion, a P/E ratio of 90.72, 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. The stock has a 50-day moving average price of $215.13 and a 200 day moving average price of $203.08.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the prior year, the firm earned $2.79 earnings per share. The firm’s revenue was down 9.6% compared to the same quarter last year. As a group, analysts expect 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 3.16%. 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.