American Tower Corporation (NYSE:AMT) Shares Acquired by GS Investments Inc.

GS Investments Inc. increased its position in American Tower Corporation (NYSE:AMT) by 1.5% during the first quarter, Holdings Channel reports. The fund owned 4,626 shares of the real estate investment trust’s stock after purchasing an additional 69 shares during the quarter. GS Investments Inc.’s holdings in American Tower were worth $1,007,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of AMT. Brighton Jones LLC increased its stake in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares during the period. Orion Portfolio Solutions LLC grew its stake in shares of American Tower by 4.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 16,322 shares of the real estate investment trust’s stock worth $2,994,000 after purchasing an additional 648 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of American Tower by 30.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 65,047 shares of the real estate investment trust’s stock worth $11,930,000 after purchasing an additional 15,064 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its stake in shares of American Tower by 16.4% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 17,062 shares of the real estate investment trust’s stock worth $3,129,000 after purchasing an additional 2,402 shares during the last quarter. Finally, Tradewinds LLC. acquired a new position in shares of American Tower in the 4th quarter worth approximately $254,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several recent analyst reports. UBS Group raised their target price on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Wells Fargo & Company raised their target price on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Bank of America initiated coverage on shares of American Tower in a report on Monday, May 19th. They issued a “buy” rating and a $255.00 target price for the company. HSBC cut shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a report on Wednesday. Finally, JMP Securities raised their price target on shares of American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, American Tower currently has a consensus rating of “Buy” and a consensus price target of $241.88.

American Tower Stock Down 4.3%

AMT opened at $214.68 on Wednesday. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s fifty day moving average price is $218.87 and its two-hundred day moving average price is $209.88. The company has a market capitalization of $100.50 billion, a P/E ratio of 55.19, a P/E/G ratio of 1.24 and a beta of 0.82.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the firm earned $2.79 EPS. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. On average, analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.17%. The ex-dividend date was Friday, June 13th. American Tower’s payout ratio is 174.81%.

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.