American Tower Co. (NYSE:AMT) Shares Purchased by Accelerate Investment Advisors LLC

Accelerate Investment Advisors LLC grew its stake in shares of American Tower Co. (NYSE:AMT) by 26.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,188 shares of the real estate investment trust’s stock after acquiring an additional 248 shares during the period. Accelerate Investment Advisors LLC’s holdings in American Tower were worth $218,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AMT. Headlands Technologies LLC bought a new position in American Tower during the 2nd quarter worth approximately $144,000. LPL Financial LLC raised its position in shares of American Tower by 1.5% during the 2nd quarter. LPL Financial LLC now owns 340,456 shares of the real estate investment trust’s stock valued at $66,178,000 after acquiring an additional 4,941 shares in the last quarter. Meeder Asset Management Inc. bought a new position in American Tower during the second quarter worth $46,000. HBK Sorce Advisory LLC boosted its holdings in American Tower by 8.2% in the second quarter. HBK Sorce Advisory LLC now owns 1,534 shares of the real estate investment trust’s stock worth $298,000 after purchasing an additional 116 shares during the period. Finally, Parallel Advisors LLC increased its stake in American Tower by 2.1% during the second quarter. Parallel Advisors LLC now owns 21,997 shares of the real estate investment trust’s stock valued at $4,276,000 after purchasing an additional 442 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AMT shares. Scotiabank reduced their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. The Goldman Sachs Group lowered their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Barclays cut their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $230.67.

American Tower Price Performance

NYSE:AMT traded up $2.79 during trading hours on Monday, reaching $176.25. 1,297,335 shares of the company’s stock were exchanged, compared to its average volume of 2,305,192. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market capitalization of $82.36 billion, a P/E ratio of 74.37, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The business’s 50-day simple moving average is $194.98 and its two-hundred day simple moving average is $211.92.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the firm earned $2.58 earnings per share. The business’s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.68%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.