American Tower Co. (NYSE:AMT) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its position in American Tower Co. (NYSE:AMT – Get Rating) by 59.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,606 shares of the real estate investment trust’s stock after buying an additional 1,713 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in American Tower were worth $976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. New England Capital Financial Advisors LLC acquired a new stake in shares of American Tower during the fourth quarter worth approximately $26,000. Pinnacle Holdings LLC bought a new position in American Tower during the first quarter valued at approximately $29,000. Eagle Bay Advisors LLC bought a new position in American Tower during the second quarter valued at approximately $30,000. EWG Elevate Inc. bought a new position in American Tower during the fourth quarter valued at approximately $25,000. Finally, Elequin Securities LLC bought a new position in American Tower during the fourth quarter valued at approximately $28,000. 89.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on AMT. Royal Bank of Canada dropped their price target on shares of American Tower from $240.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, March 6th. Raymond James lifted their price target on shares of American Tower from $227.00 to $238.00 in a research report on Thursday, April 27th. Credit Suisse Group dropped their price target on shares of American Tower from $251.00 to $244.00 and set an “outperform” rating on the stock in a research report on Friday, February 24th. Morgan Stanley dropped their target price on shares of American Tower from $224.00 to $215.00 in a research report on Tuesday, April 18th. Finally, Barclays boosted their target price on shares of American Tower from $229.00 to $233.00 in a research report on Monday, May 1st. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $258.12.

American Tower Stock Down 0.5 %

Shares of NYSE:AMT opened at $182.56 on Friday. American Tower Co. has a 52 week low of $178.17 and a 52 week high of $282.47. The company has a debt-to-equity ratio of 2.83, a quick ratio of 0.61 and a current ratio of 0.61. The company’s fifty day moving average is $199.29 and its 200-day moving average is $208.65. The company has a market capitalization of $85.08 billion, a PE ratio of 60.85, a P/E/G ratio of 1.20 and a beta of 0.57.

American Tower (NYSE:AMT – Get Rating) last issued its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.72 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.56). The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.74 billion. American Tower had a net margin of 12.85% and a return on equity of 11.65%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.55 EPS. Equities research analysts predict that American Tower Co. will post 9.24 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 10th. Shareholders of record on Friday, June 16th will be issued a dividend of $1.57 per share. This is a boost from American Tower’s previous quarterly dividend of $1.56. This represents a $6.28 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Thursday, June 15th. American Tower’s payout ratio is currently 208.00%.

American Tower Profile

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American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It offers leasing of space on communications sites to wireless service providers, radio and television broadcast companies. It operates through the following segments: U.S.