Capital International Investors Has $163.62 Million Holdings in American Tower Co. (NYSE:AMT)

Capital International Investors lowered its stake in shares of American Tower Co. (NYSE:AMT) by 15.6% during the fourth quarter, Holdings Channel reports. The fund owned 892,102 shares of the real estate investment trust’s stock after selling 165,032 shares during the period. Capital International Investors’ holdings in American Tower were worth $163,620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of American Tower during the fourth quarter worth approximately $1,164,851,000. Cohen & Steers Inc. increased its holdings in American Tower by 21.8% during the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock worth $3,516,890,000 after purchasing an additional 3,437,602 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in American Tower in the 4th quarter valued at approximately $193,246,000. Daiwa Securities Group Inc. lifted its position in shares of American Tower by 456.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust’s stock worth $206,269,000 after purchasing an additional 922,701 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of American Tower by 16.8% during the 4th quarter. Franklin Resources Inc. now owns 5,164,905 shares of the real estate investment trust’s stock worth $947,295,000 after buying an additional 742,632 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on AMT shares. Citigroup raised their target price on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. BMO Capital Markets boosted their price target on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Wells Fargo & Company upgraded shares of American Tower from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Hsbc Global Res raised American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, Barclays boosted their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, American Tower presently has an average rating of “Buy” and a consensus price target of $232.07.

American Tower Stock Performance

Shares of AMT opened at $223.03 on Friday. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm’s fifty day simple moving average is $208.33 and its two-hundred day simple moving average is $202.44. The stock has a market capitalization of $104.26 billion, a P/E ratio of 94.10, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.29 earnings per share. As a group, analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.05%. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 141.37%.

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.