Partners Group Holding AG Has $69.44 Million Position in American Tower Co. (NYSE:AMT)

Partners Group Holding AG boosted its stake in shares of American Tower Co. (NYSE:AMT) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 378,592 shares of the real estate investment trust’s stock after purchasing an additional 28,988 shares during the quarter. American Tower accounts for approximately 2.5% of Partners Group Holding AG’s holdings, making the stock its 4th biggest position. Partners Group Holding AG’s holdings in American Tower were worth $69,438,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AMT. Nordea Investment Management AB increased its position in shares of American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after purchasing an additional 314,769 shares during the period. Point72 Hong Kong Ltd bought a new stake in American Tower in the 3rd quarter valued at $1,156,000. TigerOak Management L.L.C. bought a new position in shares of American Tower during the 4th quarter worth about $1,102,000. Brookstone Capital Management increased its stake in 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 during the period. Finally, CCLA Investment Management raised its position in American Tower by 5.5% in the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock worth $79,344,000 after purchasing an additional 22,523 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on AMT. Citigroup lifted their price objective on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. The Goldman Sachs Group cut their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. JMP Securities began coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price on the stock. Finally, Scotiabank cut their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $229.43.

American Tower Stock Up 1.0 %

NYSE AMT opened at $216.41 on Friday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The stock has a market capitalization of $101.16 billion, a P/E ratio of 91.31, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The stock has a fifty day moving average of $195.99 and a 200-day moving average of $205.43.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the previous year, the business posted $2.29 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a dividend of $1.70 per share. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.14%. American Tower’s payout ratio is presently 141.37%.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by company insiders.

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.