Capital International Inc. CA Has $5.18 Million Stake in American Tower Co. (NYSE:AMT)

Capital International Inc. CA grew its position in American Tower Co. (NYSE:AMT) by 40.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,237 shares of the real estate investment trust’s stock after purchasing an additional 8,115 shares during the period. Capital International Inc. CA’s holdings in American Tower were worth $5,179,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AMT. Wilmington Savings Fund Society FSB acquired a new position in American Tower during the third quarter worth $1,784,000. Destination Wealth Management raised its holdings in American Tower by 2.7% during the third quarter. Destination Wealth Management now owns 94,992 shares of the real estate investment trust’s stock worth $22,091,000 after acquiring an additional 2,517 shares in the last quarter. Tidal Investments LLC grew its stake in American Tower by 5.4% in the third quarter. Tidal Investments LLC now owns 19,990 shares of the real estate investment trust’s stock valued at $4,649,000 after purchasing an additional 1,032 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock worth $981,455,000 after purchasing an additional 38,436 shares in the last quarter. Finally, Inspire Trust Co. N.A. grew its stake in shares of American Tower by 19.3% in the third quarter. Inspire Trust Co. N.A. now owns 7,800 shares of the real estate investment trust’s stock valued at $1,814,000 after buying an additional 1,260 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Performance

AMT opened at $223.03 on Friday. The firm has a market cap 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. The business’s fifty day moving average is $208.33 and its 200-day moving average is $202.44. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

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

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This is a boost from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.05%. American Tower’s dividend payout ratio is presently 141.37%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AMT shares. Morgan Stanley initiated coverage on shares of American Tower in a research note on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price objective on the stock. Scotiabank cut their price objective 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. Citigroup boosted their target price on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, BMO Capital Markets upped their price objective 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. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $232.07.

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.