LRT Capital Management LLC Boosts Stake in American Tower Co. (NYSE:AMT)

LRT Capital Management LLC lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 86.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,750 shares of the real estate investment trust’s stock after acquiring an additional 6,377 shares during the quarter. American Tower accounts for about 2.0% of LRT Capital Management LLC’s investment portfolio, making the stock its 14th biggest position. LRT Capital Management LLC’s holdings in American Tower were worth $2,522,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Lighthouse Investment Partners LLC increased its holdings in American Tower by 21.7% during the 4th quarter. Lighthouse Investment Partners LLC now owns 36,500 shares of the real estate investment trust’s stock worth $6,694,000 after purchasing an additional 6,500 shares during the last quarter. Guardian Wealth Advisors LLC NC grew its position in shares of American Tower by 17.0% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 9,327 shares of the real estate investment trust’s stock worth $1,711,000 after buying an additional 1,353 shares in the last quarter. Georgetown University increased its stake in shares of American Tower by 128.2% in the fourth quarter. Georgetown University now owns 45,654 shares of the real estate investment trust’s stock worth $8,373,000 after buying an additional 25,651 shares during the last quarter. Gotham Asset Management LLC raised its holdings in American Tower by 61.6% in the fourth quarter. Gotham Asset Management LLC now owns 94,755 shares of the real estate investment trust’s stock valued at $17,379,000 after acquiring an additional 36,121 shares in the last quarter. Finally, Graham Capital Management L.P. boosted its stake in American Tower by 163.9% during the 4th quarter. Graham Capital Management L.P. now owns 6,415 shares of the real estate investment trust’s stock valued at $1,177,000 after acquiring an additional 3,984 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of NYSE AMT opened at $219.96 on Monday. American Tower Co. has a 12-month low of $172.51 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 company has a market cap of $102.82 billion, a PE ratio of 92.81, a P/E/G ratio of 1.29 and a beta of 0.86. The stock has a 50 day simple moving average of $215.14 and a 200-day simple moving average of $201.77.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm posted $2.79 EPS. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. On average, equities research analysts forecast 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 was paid on Monday, April 28th. Shareholders of record on Friday, April 11th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.09%. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend was Friday, April 11th. American Tower’s payout ratio is 174.81%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMT shares. Morgan Stanley assumed coverage on American Tower in a research note on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price objective on the stock. Citigroup raised their price objective on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. UBS Group raised their price target on shares of American Tower from $245.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Finally, Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $239.27.

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.