Evercore Wealth Management LLC Raises Position in American Tower Co. (NYSE:AMT)

Evercore Wealth Management LLC raised its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 453,370 shares of the real estate investment trust's stock after purchasing an additional 4,600 shares during the period. American Tower accounts for approximately 1.2% of Evercore Wealth Management LLC's investment portfolio, making the stock its 28th biggest position. Evercore Wealth Management LLC owned approximately 0.10% of American Tower worth $83,153,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Glenview Trust co increased its stake in American Tower by 0.8% during the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock valued at $1,294,000 after purchasing an additional 54 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in American Tower by 2.1% in the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock worth $477,000 after acquiring an additional 54 shares during the last quarter. Precedent Wealth Partners LLC boosted its stake in American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock valued at $235,000 after purchasing an additional 58 shares during the last quarter. Resonant Capital Advisors LLC grew its position in American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock valued at $206,000 after buying an additional 61 shares during the period. Finally, Calamos Wealth Management LLC increased its stake in shares of American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock worth $398,000 after acquiring an additional 61 shares during the period. Institutional investors own 92.69% of the company's stock.

American Tower Price Performance

American Tower stock traded up $0.42 during mid-day trading on Monday, hitting $211.24. 1,385,321 shares of the company were exchanged, compared to its average volume of 2,481,464. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $98.75 billion, a P/E ratio of 89.10, a PEG ratio of 1.29 and a beta of 0.87. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The business's 50 day simple moving average is $210.83 and its two-hundred day simple moving average is $202.00.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 earnings per share. Analysts forecast that American Tower Co. will post 10.14 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, April 28th. Stockholders of record on Friday, April 11th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.22%. This is an increase from American Tower's previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. American Tower's dividend payout ratio (DPR) is 141.37%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMT. JMP Securities started coverage on shares of American Tower in a research note on Monday, January 27th. They set an "outperform" rating and a $225.00 price objective on the stock. Morgan Stanley initiated coverage on shares of American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price target on the stock. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. BMO Capital Markets raised their price objective on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, American Tower presently has a consensus rating of "Buy" and a consensus target price of $233.07.

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.