E Fund Management Hong Kong Co. Ltd. Buys Shares of 144 American Tower Corporation (NYSE:AMT)

E Fund Management Hong Kong Co. Ltd. purchased a new position in American Tower Corporation (NYSE:AMT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 144 shares of the real estate investment trust’s stock, valued at approximately $31,000.

A number of other large investors have also recently made changes to their positions in the stock. Partners Group Holding AG grew its position in American Tower by 8.3% in the 4th 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 grew 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 worth $71,252,000 after acquiring an additional 46,009 shares during the period. LGT Group Foundation increased its position in 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 last quarter. Raymond James Financial Inc. bought a new position in American Tower in the fourth quarter valued at about $193,246,000. Finally, Cbre Investment Management Listed Real Assets LLC boosted its position in American Tower by 2.5% in the fourth 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 purchasing an additional 18,555 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

AMT stock opened at $221.71 on Tuesday. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81. The company’s fifty day moving average price is $215.73 and its 200-day moving average price is $203.40. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56. The company has a market capitalization of $103.79 billion, a PE ratio of 57.00, a price-to-earnings-growth ratio of 1.61 and a beta of 0.81.

American Tower (NYSE:AMT) last announced its quarterly 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. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.79 EPS. On average, equities analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders 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 yield of 3.07%. The ex-dividend date is Friday, June 13th. American Tower’s dividend payout ratio is presently 174.81%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMT. Raymond James Financial raised their price objective on shares of American Tower from $231.00 to $251.00 and gave the stock a “strong-buy” rating in a report on Wednesday, April 30th. Barclays boosted their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. BMO Capital Markets raised their target price on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Royal Bank Of Canada lifted their target price on American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Finally, Citigroup upped their price target on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Two equities 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. According to data from MarketBeat.com, American Tower has an average rating of “Buy” and an average target price of $240.25.

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.