Jones Financial Companies Lllp grew its stake in American Tower Corp (NYSE:AMT) by 10.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 51,791 shares of the real estate investment trust’s stock after buying an additional 4,921 shares during the quarter. Jones Financial Companies Lllp’s holdings in American Tower were worth $7,389,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Centers of America Inc. boosted its stake in shares of American Tower by 5.6% in the 3rd quarter. Investment Centers of America Inc. now owns 6,495 shares of the real estate investment trust’s stock valued at $887,000 after buying an additional 343 shares during the period. IFM Investors Pty Ltd boosted its stake in shares of American Tower by 3.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 11,978 shares of the real estate investment trust’s stock valued at $1,637,000 after buying an additional 353 shares during the period. Security National Trust Co. boosted its stake in shares of American Tower by 7.7% in the 4th quarter. Security National Trust Co. now owns 5,035 shares of the real estate investment trust’s stock valued at $718,000 after buying an additional 360 shares during the period. ETRADE Capital Management LLC boosted its stake in shares of American Tower by 9.5% in the 4th quarter. ETRADE Capital Management LLC now owns 4,253 shares of the real estate investment trust’s stock valued at $607,000 after buying an additional 368 shares during the period. Finally, CAPROCK Group Inc. boosted its stake in shares of American Tower by 19.2% in the 4th quarter. CAPROCK Group Inc. now owns 2,352 shares of the real estate investment trust’s stock valued at $313,000 after buying an additional 379 shares during the period. Institutional investors and hedge funds own 92.52% of the company’s stock.
Several equities analysts have recently issued reports on AMT shares. Morgan Stanley lifted their price objective on American Tower from $155.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, November 14th. KeyCorp reiterated an “overweight” rating and issued a $177.00 price objective (up previously from $156.00) on shares of American Tower in a research note on Monday, November 27th. ValuEngine lowered American Tower from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Oppenheimer raised their target price on American Tower from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 20th. Finally, Zacks Investment Research raised American Tower from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $157.87.
American Tower Corp (AMT) opened at $143.58 on Monday. The company has a market capitalization of $63,297.39, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 1.61 and a beta of 0.80. American Tower Corp has a 12-month low of $113.11 and a 12-month high of $155.28. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.25 and a current ratio of 1.25.
American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.59 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.04). The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. American Tower had a return on equity of 17.20% and a net margin of 18.31%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $1.52 EPS. equities analysts expect that American Tower Corp will post 7.09 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Wednesday, April 11th will be given a dividend of $0.75 per share. This is a positive change from American Tower’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, April 10th. This represents a $3.00 annualized dividend and a yield of 2.09%. American Tower’s payout ratio is 104.87%.
American Tower declared that its board has approved a stock repurchase program on Thursday, December 7th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
American Tower Profile
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
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