Accelerate Investment Advisors LLC Increases Stock Position in American Tower Co. (NYSE:AMT)

Accelerate Investment Advisors LLC grew its holdings in American Tower Co. (NYSE:AMT) by 26.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,188 shares of the real estate investment trust’s stock after purchasing an additional 248 shares during the quarter. Accelerate Investment Advisors LLC’s holdings in American Tower were worth $218,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AMT. Headlands Technologies LLC acquired a new position in American Tower in the 2nd quarter valued at about $144,000. LPL Financial LLC boosted its position in American Tower by 1.5% during the second quarter. LPL Financial LLC now owns 340,456 shares of the real estate investment trust’s stock worth $66,178,000 after acquiring an additional 4,941 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in American Tower in the 2nd quarter worth approximately $46,000. HBK Sorce Advisory LLC grew its stake in American Tower by 8.2% in the 2nd quarter. HBK Sorce Advisory LLC now owns 1,534 shares of the real estate investment trust’s stock worth $298,000 after acquiring an additional 116 shares during the period. Finally, Parallel Advisors LLC raised its holdings in American Tower by 2.1% in the 2nd quarter. Parallel Advisors LLC now owns 21,997 shares of the real estate investment trust’s stock valued at $4,276,000 after acquiring an additional 442 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Up 1.6 %

NYSE AMT traded up $2.79 during trading hours on Monday, hitting $176.25. The company had a trading volume of 1,297,335 shares, compared to its average volume of 2,305,192. The firm’s 50 day moving average is $194.98 and its 200 day moving average is $211.92. 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 fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a market capitalization of $82.36 billion, a price-to-earnings ratio of 74.37, a P/E/G ratio of 1.31 and a beta of 0.84.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 EPS. Sell-side analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AMT shares. Scotiabank lowered their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Barclays lowered their price target on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a report on Monday. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $230.67.

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.