Altshuler Shaham Ltd Makes New $1.06 Million Investment in American Tower Co. (NYSE:AMT)

Altshuler Shaham Ltd purchased a new stake in shares of American Tower Co. (NYSE:AMT) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 5,750 shares of the real estate investment trust’s stock, valued at approximately $1,055,000.

A number of other hedge funds have also recently modified their holdings of the company. Partners Group Holding AG grew its stake in shares of American Tower by 8.3% in the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock valued at $69,438,000 after buying an additional 28,988 shares during the period. Nordea Investment Management AB increased its stake in American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after acquiring an additional 314,769 shares during the last quarter. TigerOak Management L.L.C. purchased a new position in shares of American Tower during the 4th quarter worth $1,102,000. Brookstone Capital Management lifted its position in American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after buying an additional 1,995 shares during the last quarter. Finally, CCLA Investment Management increased its position in shares of American Tower by 5.5% during the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock valued at $79,344,000 after acquiring an additional 22,523 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. BMO Capital Markets lifted their target price 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. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company raised 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 note on Monday, March 17th. Scotiabank dropped their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Finally, Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $232.07.

American Tower Stock Performance

Shares of AMT stock opened at $218.41 on Thursday. The company has a market cap of $102.10 billion, a P/E ratio of 92.16, a PEG ratio of 1.29 and a beta of 0.87. 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 has a fifty day moving average price of $207.07 and a 200 day moving average price of $202.78. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.83. The business 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 business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $2.29 EPS. Sell-side analysts predict that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.11%. This is an increase 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 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.