Snowden Capital Advisors LLC Has $7.88 Million Stock Position in American Tower Co. (NYSE:AMT)

Snowden Capital Advisors LLC raised its holdings in American Tower Co. (NYSE:AMT) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,610 shares of the real estate investment trust’s stock after purchasing an additional 581 shares during the quarter. Snowden Capital Advisors LLC’s holdings in American Tower were worth $7,884,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower during the 4th quarter worth approximately $29,000. Roxbury Financial LLC bought a new position in American Tower in the 4th quarter worth about $32,000. Graney & King LLC purchased a new stake in shares of American Tower in the fourth quarter worth $32,000. Crowley Wealth Management Inc. bought a new stake in shares of American Tower during the 4th quarter worth $37,000. Finally, Bank of Jackson Hole Trust purchased a new position in American Tower in the 4th quarter worth $46,000. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AMT shares. Barclays increased their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Raymond James raised their price objective on American Tower from $231.00 to $251.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, April 30th. BMO Capital Markets upped their price target on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Wells Fargo & Company boosted their price objective on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Finally, UBS Group raised their price objective on American Tower from $245.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $239.27.

American Tower Stock Performance

Shares of NYSE AMT opened at $211.55 on Friday. The company has a market cap of $99.03 billion, a PE ratio of 89.26, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 12 month low of $172.51 and a 12 month high of $243.56. The company has a 50-day simple moving average of $214.87 and a 200-day simple moving average of $201.63.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 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 for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the firm posted $2.79 earnings per share. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. On average, equities analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.21%. American Tower’s dividend payout ratio is currently 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.