Curat Global LLC Invests $45,000 in American Tower Co. (NYSE:AMT)

Curat Global LLC bought a new position in American Tower Co. (NYSE:AMT) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 205 shares of the real estate investment trust’s stock, valued at approximately $45,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cohen & Steers Inc. raised its holdings in shares of American Tower by 21.8% during the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock worth $3,516,890,000 after acquiring an additional 3,437,602 shares in the last quarter. Geode Capital Management LLC raised its holdings in American Tower by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust’s stock valued at $2,074,956,000 after buying an additional 129,192 shares in the last quarter. FMR LLC raised its holdings in American Tower by 5.0% during the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust’s stock valued at $2,050,390,000 after buying an additional 537,136 shares in the last quarter. Capital Research Global Investors raised its holdings in American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock valued at $1,570,547,000 after buying an additional 3,421,413 shares in the last quarter. Finally, Norges Bank bought a new position in American Tower during the fourth quarter valued at about $1,164,851,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMT. Bank of America began coverage on American Tower in a report on Monday, May 19th. They set a “buy” rating and a $255.00 target price on the stock. JMP Securities raised their target price on American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a report on Wednesday, April 30th. Wells Fargo & Company raised their target price on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Citigroup lifted their price objective on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Buy” and an average target price of $240.25.

American Tower Trading Down 1.7%

Shares of AMT opened at $212.57 on Friday. American Tower Co. has a 12-month low of $172.51 and a 12-month high of $243.56. 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 firm has a market capitalization of $99.51 billion, a price-to-earnings ratio of 89.69, a P/E/G ratio of 1.29 and a beta of 0.82. The stock’s 50-day moving average price is $215.09 and its 200 day moving average price is $202.78.

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

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.20%. American Tower’s dividend payout ratio is currently 174.81%.

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.