Algert Global LLC Buys Shares of 8,944 American Tower Co. (NYSE:AMT)

Algert Global LLC purchased a new stake in shares of American Tower Co. (NYSE:AMT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,944 shares of the real estate investment trust’s stock, valued at approximately $1,640,000.

Several other large investors have also recently bought and sold shares of the business. Graney & King LLC acquired a new stake in shares of American Tower during the fourth quarter worth approximately $32,000. Roxbury Financial LLC purchased a new position in shares of American Tower during the 4th quarter valued at $32,000. Crowley Wealth Management Inc. acquired a new position in shares of American Tower in the fourth quarter worth $37,000. Bank of Jackson Hole Trust purchased a new stake in shares of American Tower during the fourth quarter worth $46,000. Finally, Kestra Investment Management LLC acquired a new stake in American Tower during the fourth quarter valued at $48,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMT. Raymond James raised their price target on American Tower from $231.00 to $251.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, April 30th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Barclays boosted their target price on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. UBS Group lifted their price objective on shares of American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Finally, JMP Securities increased their target price on shares of American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, American Tower currently has a consensus rating of “Buy” and a consensus price target of $239.27.

American Tower Trading Up 1.0 %

Shares of AMT stock opened at $219.96 on Friday. 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 Co. has a 1 year low of $172.51 and a 1 year high of $243.56. The firm’s fifty day simple moving average is $215.14 and its 200 day simple moving average is $202.10. The firm has a market capitalization of $102.82 billion, a P/E ratio of 92.81, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.34. The business 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%. The firm’s revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the company earned $2.79 earnings per share. As a group, sell-side analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, April 11th were given a $1.70 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, April 11th. American Tower’s dividend payout ratio (DPR) is 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.