Gotham Asset Management LLC Boosts Stock Holdings in American Tower Co. (NYSE:AMT)

Gotham Asset Management LLC lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 61.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 94,755 shares of the real estate investment trust’s stock after acquiring an additional 36,121 shares during the quarter. Gotham Asset Management LLC’s holdings in American Tower were worth $17,379,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Roxbury Financial LLC purchased a new stake in American Tower in the fourth quarter valued at approximately $32,000. Graney & King LLC bought a new stake in shares of American Tower during the 4th quarter worth $32,000. Crowley Wealth Management Inc. purchased a new position in American Tower in the fourth quarter worth $37,000. Bank of Jackson Hole Trust bought a new position in American Tower in the fourth quarter valued at $46,000. Finally, Kestra Investment Management LLC bought a new stake in American Tower during the fourth quarter worth about $48,000. 92.69% of the stock is owned by institutional investors.

American Tower Stock Performance

Shares of AMT stock opened at $219.96 on Friday. The company has a market capitalization of $102.82 billion, a price-to-earnings ratio of 92.81, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a one year low of $172.51 and a one year high of $243.56. The company’s 50-day moving average is $215.14 and its 200 day moving average is $201.94.

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

American Tower Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.09%. American Tower’s payout ratio is 174.81%.

Wall Street Analyst Weigh In

AMT has been the topic of a number of recent research reports. Scotiabank increased their price target on shares of American Tower from $234.00 to $248.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 30th. 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 report on Wednesday, April 30th. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Wells Fargo & Company increased their price target on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Finally, Royal Bank of Canada lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $239.27.

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.