Ancora Advisors LLC Grows Holdings in American Tower Co. (NYSE:AMT)

Ancora Advisors LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 10.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 132,674 shares of the real estate investment trust’s stock after purchasing an additional 12,673 shares during the quarter. Ancora Advisors LLC’s holdings in American Tower were worth $24,334,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AMT. Glenview Trust co raised its position in shares of American Tower by 0.8% in the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock worth $1,294,000 after buying an additional 54 shares during the period. CreativeOne Wealth LLC boosted its position in shares of American Tower by 2.1% in the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust’s stock worth $477,000 after buying an additional 54 shares during the period. Precedent Wealth Partners LLC grew its stake in shares of American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 58 shares in the last quarter. Resonant Capital Advisors LLC raised its holdings in shares of American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 61 shares during the period. Finally, Calamos Wealth Management LLC boosted its holdings in American Tower by 2.9% in the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust’s stock worth $398,000 after acquiring an additional 61 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on AMT. Wells Fargo & Company raised their price target on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup raised their target price on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. UBS Group boosted their price target on American Tower from $245.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James increased their target price on American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a research note on Wednesday. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $239.27.

American Tower Trading Down 0.2 %

American Tower stock opened at $223.49 on Friday. American Tower Co. has a 12-month low of $172.51 and a 12-month high of $243.56. The stock has a market capitalization of $104.47 billion, a PE ratio of 94.30, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The firm has a 50 day simple moving average of $213.58 and a 200-day simple moving average of $202.21. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.79 EPS. As a group, equities research analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, April 11th were given a $1.70 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend was Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.04%. American Tower’s payout ratio is 141.37%.

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.