Ferguson Wellman Capital Management Inc. lifted its stake in shares of American Tower Co. (NYSE:AMT – Get Rating) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,697 shares of the real estate investment trust’s stock after acquiring an additional 102 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in American Tower were worth $945,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of American Tower by 1.4% during the first quarter. Vanguard Group Inc. now owns 59,982,344 shares of the real estate investment trust’s stock worth $15,068,764,000 after acquiring an additional 824,408 shares during the period. BlackRock Inc. boosted its stake in shares of American Tower by 6.7% during the fourth quarter. BlackRock Inc. now owns 36,636,712 shares of the real estate investment trust’s stock valued at $10,716,237,000 after purchasing an additional 2,302,202 shares in the last quarter. State Street Corp boosted its stake in shares of American Tower by 7.9% during the first quarter. State Street Corp now owns 21,253,223 shares of the real estate investment trust’s stock valued at $5,339,235,000 after purchasing an additional 1,550,683 shares in the last quarter. Cohen & Steers Inc. boosted its stake in American Tower by 27.5% in the first quarter. Cohen & Steers Inc. now owns 19,680,735 shares of the real estate investment trust’s stock valued at $4,944,107,000 after acquiring an additional 4,239,151 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in American Tower by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 6,213,168 shares of the real estate investment trust’s stock valued at $1,560,871,000 after acquiring an additional 112,662 shares in the last quarter. 91.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have weighed in on AMT. JPMorgan Chase & Co. upgraded shares of American Tower from an “underweight” rating to an “overweight” rating and raised their target price for the company from $245.00 to $285.00 in a research note on Tuesday, June 21st. Jefferies Financial Group lowered their target price on shares of American Tower from $308.00 to $293.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Deutsche Bank Aktiengesellschaft raised their target price on shares of American Tower from $260.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, July 14th. Credit Suisse Group started coverage on shares of American Tower in a report on Wednesday, June 22nd. They issued an “outperform” rating and a $313.00 price target for the company. Finally, Royal Bank of Canada raised their price target on shares of American Tower from $282.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $291.29.
American Tower Stock Down 0.6 %
AMT opened at $232.78 on Friday. American Tower Co. has a fifty-two week low of $220.00 and a fifty-two week high of $294.40. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.65 and a current ratio of 0.65. The company has a fifty day moving average of $261.27 and a two-hundred day moving average of $253.48. The stock has a market capitalization of $108.38 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 2.13 and a beta of 0.48.
American Tower (NYSE:AMT – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.99. American Tower had a net margin of 27.23% and a return on equity of 28.93%. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the company earned $2.42 earnings per share. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. On average, research analysts expect that American Tower Co. will post 9.49 earnings per share for the current year.
American Tower Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Tuesday, October 11th will be given a $1.47 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.43. This represents a $5.88 annualized dividend and a dividend yield of 2.53%. American Tower’s dividend payout ratio (DPR) is 94.08%.
American Tower Profile
American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.
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