American Tower Co. (NYSE:AMT) Shares Purchased by Tobam

Tobam grew its holdings in American Tower Co. (NYSE:AMT - Free Report) by 443.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,947 shares of the real estate investment trust's stock after purchasing an additional 8,931 shares during the quarter. Tobam's holdings in American Tower were worth $2,382,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of AMT. Minot DeBlois Advisors LLC purchased a new position in American Tower in the 4th quarter worth approximately $29,000. Roxbury Financial LLC purchased a new stake in shares of American Tower during the 4th quarter valued at approximately $32,000. Graney & King LLC purchased a new stake in shares of American Tower during the 4th quarter valued at approximately $32,000. Lowe Wealth Advisors LLC raised its position in shares of American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 109 shares during the period. Finally, Crowley Wealth Management Inc. purchased a new stake in shares of American Tower during the 4th quarter valued at approximately $37,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Down 1.4%

Shares of NYSE:AMT traded down $2.94 during trading on Friday, hitting $214.76. The company's stock had a trading volume of 2,455,578 shares, compared to its average volume of 2,490,204. The business has a 50 day moving average price of $214.91 and a two-hundred day moving average price of $203.08. The company has a market capitalization of $100.54 billion, a PE ratio of 90.62, a P/E/G ratio of 1.29 and a beta of 0.81. 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 fifty-two week low of $172.51 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping the consensus estimate of $2.41 by $0.34. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company's quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.79 earnings per share. As a group, research analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.17%. American Tower's payout ratio is currently 174.81%.

Analyst Ratings Changes

Several research firms have recently commented on AMT. Scotiabank lifted their price target on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Bank of America began coverage on shares of American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Hsbc Global Res raised American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Finally, Morgan Stanley began coverage on American Tower in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price on the stock. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price 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.