Nilsine Partners LLC Boosts Stock Position in American Tower Corporation (NYSE:AMT)

Nilsine Partners LLC grew its stake in shares of American Tower Corporation (NYSE:AMT) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,216 shares of the real estate investment trust’s stock after buying an additional 66 shares during the period. Nilsine Partners LLC’s holdings in American Tower were worth $700,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in American Tower during the 4th quarter valued at approximately $1,164,851,000. Cohen & Steers Inc. raised its stake in American Tower by 21.8% during the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock valued at $3,516,890,000 after purchasing an additional 3,437,602 shares during the period. Capital Research Global Investors raised its stake in American Tower by 66.5% during the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock valued at $1,570,547,000 after purchasing an additional 3,421,413 shares during the period. Capital World Investors raised its stake in American Tower by 160.6% during the 4th quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust’s stock valued at $902,396,000 after purchasing an additional 3,032,005 shares during the period. Finally, GAMMA Investing LLC raised its stake in American Tower by 23,627.3% during the 1st quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust’s stock valued at $370,346,000 after purchasing an additional 1,694,784 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

Shares of American Tower stock opened at $217.23 on Friday. The stock has a market cap of $101.70 billion, a price-to-earnings ratio of 55.84, a price-to-earnings-growth ratio of 1.61 and a beta of 0.81. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day moving average price of $215.65 and a 200-day moving average price of $203.34. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.34. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the business earned $2.79 EPS. American Tower’s revenue was down 9.6% compared to the same quarter last year. Equities analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s payout ratio is currently 174.81%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. JMP Securities lifted their target price 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. Morgan Stanley assumed coverage on American Tower in a research note on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 price objective on the stock. Hsbc Global Res raised American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, Scotiabank lifted their price objective on American Tower from $234.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower currently has an average rating of “Buy” and a consensus price target of $240.25.

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.