Capital International Sarl Makes New $465,000 Investment in American Tower Co. (NYSE:AMT)

Capital International Sarl acquired a new stake in American Tower Co. (NYSE:AMT) in the 4th quarter, Holdings Channel.com reports. The fund acquired 2,534 shares of the real estate investment trust’s stock, valued at approximately $465,000.

A number of other large investors have also added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co lifted its holdings in shares of American Tower by 33.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 887,844 shares of the real estate investment trust’s stock worth $162,626,000 after purchasing an additional 224,012 shares during the period. Ally Financial Inc. bought a new position in American Tower during the 4th quarter worth $3,301,000. Altshuler Shaham Ltd acquired a new position in American Tower during the 4th quarter worth about $1,055,000. Evergreen Capital Management LLC grew its position in shares of American Tower by 2.7% in the 4th quarter. Evergreen Capital Management LLC now owns 40,054 shares of the real estate investment trust’s stock valued at $7,411,000 after buying an additional 1,042 shares during the last quarter. Finally, Acorns Advisers LLC acquired a new stake in shares of American Tower in the fourth quarter valued at about $204,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMT. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. Mizuho decreased their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. JMP Securities started coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price on the stock. Morgan Stanley initiated coverage on American Tower in a report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price target for the company. Finally, Barclays boosted their price objective on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $232.07.

American Tower Price Performance

Shares of NYSE:AMT opened at $223.03 on Friday. The stock’s 50 day moving average is $208.33 and its 200-day moving average is $202.44. American Tower Co. has a twelve month low of $170.46 and a twelve 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 $104.26 billion, a price-to-earnings ratio of 94.10, a PEG ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 10.05% and a return on equity of 22.01%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $2.29 earnings per share. Sell-side analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

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

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.