Value Partners Investments Inc. Makes New $3.93 Million Investment in American Tower Corporation (NYSE:AMT)

Value Partners Investments Inc. acquired a new position in American Tower Corporation (NYSE:AMT) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 18,052 shares of the real estate investment trust’s stock, valued at approximately $3,933,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 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 valued at $1,294,000 after buying an additional 54 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in shares of American Tower by 2.1% during the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust’s stock valued at $477,000 after purchasing an additional 54 shares during the last quarter. Fortitude Advisory Group L.L.C. grew its holdings in shares of American Tower by 2.9% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust’s stock valued at $416,000 after purchasing an additional 54 shares during the last quarter. Veracity Capital LLC grew its holdings in shares of American Tower by 4.7% during the 1st quarter. Veracity Capital LLC now owns 1,237 shares of the real estate investment trust’s stock valued at $269,000 after purchasing an additional 56 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC grew its holdings in shares of American Tower by 1.1% during the 4th quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust’s stock valued at $978,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Down 1.6%

NYSE:AMT opened at $220.34 on Thursday. The firm’s fifty day moving average is $215.90 and its 200-day moving average is $203.66. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. The firm has a market cap of $103.15 billion, a P/E ratio of 56.64, a P/E/G ratio of 1.66 and a beta of 0.81.

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, beating analysts’ consensus estimates of $2.41 by $0.34. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period in the prior year, the firm posted $2.79 EPS. The company’s quarterly revenue was down 9.6% on a year-over-year basis. Equities analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company 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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s dividend payout ratio is currently 174.81%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AMT shares. JMP Securities lifted their price target on shares of American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a report on Wednesday, April 30th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. BMO Capital Markets lifted their price target on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Citigroup boosted their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Royal Bank Of Canada boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, fourteen have issued 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 a consensus target price of $240.25.

About American Tower

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.