Focus Partners Wealth Has $52.72 Million Stake in American Tower Co. (NYSE:AMT)

Focus Partners Wealth increased its stake in American Tower Co. (NYSE:AMT) by 4.2% in the 4th quarter, Holdings Channel reports. The firm owned 272,811 shares of the real estate investment trust’s stock after purchasing an additional 10,998 shares during the period. Focus Partners Wealth’s holdings in American Tower were worth $52,720,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in American Tower during the 4th quarter valued at approximately $1,164,851,000. Cohen & Steers Inc. boosted its position in shares of American Tower by 21.8% in the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock valued at $3,516,890,000 after acquiring an additional 3,437,602 shares during the period. Capital Research Global Investors grew its stake in shares of American Tower by 66.5% in the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock worth $1,570,547,000 after acquiring an additional 3,421,413 shares during the last quarter. Capital World Investors increased its position in American Tower by 160.6% during the fourth quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust’s stock worth $902,396,000 after acquiring an additional 3,032,005 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in American Tower during the 4th quarter valued at $193,246,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $219.96 on Friday. The stock 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 Co. has a 1 year low of $172.51 and a 1 year high of $243.56. The firm has a 50 day moving average of $215.14 and a 200-day moving average of $201.94. 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 (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. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm earned $2.79 earnings per share. The business’s revenue was down 9.6% on a year-over-year basis. As a group, sell-side analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, April 11th were paid a $1.70 dividend. The ex-dividend date was Friday, April 11th. This is an increase from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.09%. American Tower’s payout ratio is currently 174.81%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group upped their price objective on shares of American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Citigroup raised their price objective on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Wells Fargo & Company boosted their price objective on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Raymond James raised their target price on American Tower from $231.00 to $251.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $239.27.

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.