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

Sig Brokerage LP purchased a new position in shares of American Tower Co. (NYSE:AMT) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 2,990 shares of the real estate investment trust’s stock, valued at approximately $548,000.

Several other large investors also recently made changes to their positions in AMT. Minot DeBlois Advisors LLC bought a new stake in American Tower during the 4th quarter valued at approximately $29,000. Graney & King LLC bought a new stake in American Tower during the 4th quarter worth approximately $32,000. Roxbury Financial LLC bought a new position in American Tower in the 4th quarter valued at $32,000. Crowley Wealth Management Inc. bought a new position in shares of American Tower in the 4th quarter worth $37,000. Finally, Bank of Jackson Hole Trust acquired a new stake in American Tower during the 4th quarter worth $46,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $211.55 on Friday. The firm’s fifty day simple moving average is $214.87 and its two-hundred day simple moving average is $201.63. American Tower Co. has a 12 month low of $172.51 and a 12 month high of $243.56. The stock has a market capitalization of $99.03 billion, a P/E ratio of 89.26, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

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 the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. American Tower’s revenue was down 9.6% compared to the same quarter last year. As a group, analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.21%. American Tower’s payout ratio is 174.81%.

Analyst Ratings Changes

Several research firms have issued reports on AMT. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Citigroup lifted their price target on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Morgan Stanley started coverage on American Tower in a report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price target for the company. Royal Bank of Canada boosted their price objective on American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company boosted their price objective on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average 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.