Sig Brokerage LP Takes $548,000 Position in American Tower Co. (NYSE:AMT)

Sig Brokerage LP bought a new stake in American Tower Co. (NYSE:AMT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,990 shares of the real estate investment trust’s stock, valued at approximately $548,000.

Other institutional investors have also modified their holdings of the company. Partners Group Holding AG boosted its position in American Tower by 8.3% during the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock worth $69,438,000 after purchasing an additional 28,988 shares in the last quarter. TigerOak Management L.L.C. purchased a new stake in shares of American Tower in the fourth quarter valued at $1,102,000. Brookstone Capital Management lifted its position in shares of 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 acquiring an additional 1,995 shares in the last quarter. Aviva PLC lifted its position in shares of American Tower by 13.4% in the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust’s stock valued at $71,252,000 after acquiring an additional 46,009 shares in the last quarter. Finally, LGT Group Foundation lifted its position in shares of American Tower by 16.9% in the fourth quarter. LGT Group Foundation now owns 42,608 shares of the real estate investment trust’s stock valued at $7,815,000 after acquiring an additional 6,165 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AMT shares. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. Raymond James raised their target price on American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Morgan Stanley initiated coverage on American Tower in a report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 target price on the stock. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Finally, JMP Securities raised their price objective on American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $239.27.

American Tower Stock Up 3.4%

Shares of American Tower stock opened at $211.55 on Friday. The stock’s fifty day moving average is $214.87 and its 200-day moving average is $201.63. The firm has a market capitalization 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 quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12-month low of $172.51 and a 12-month high of $243.56.

American Tower (NYSE:AMT) last announced its 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. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 earnings per share. Equities analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 3.21%. American Tower’s payout ratio is 174.81%.

American Tower Company 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.