Fragasso Financial Advisors Inc Has $1.27 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Fragasso Financial Advisors Inc cut its holdings in American Tower Co. (NYSE:AMT - Free Report) by 71.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,842 shares of the real estate investment trust's stock after selling 14,673 shares during the quarter. Fragasso Financial Advisors Inc's holdings in American Tower were worth $1,271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. NBC Securities Inc. lifted its stake in shares of American Tower by 150,100.0% in the first quarter. NBC Securities Inc. now owns 1,502 shares of the real estate investment trust's stock worth $326,000 after buying an additional 1,501 shares during the last quarter. Enterprise Bank & Trust Co lifted its stake in shares of American Tower by 1.5% in the first quarter. Enterprise Bank & Trust Co now owns 10,576 shares of the real estate investment trust's stock worth $2,301,000 after buying an additional 152 shares during the last quarter. Fiduciary Alliance LLC lifted its stake in shares of American Tower by 6.7% in the first quarter. Fiduciary Alliance LLC now owns 5,281 shares of the real estate investment trust's stock worth $1,149,000 after buying an additional 331 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its stake in shares of American Tower by 62.2% in the first quarter. Baker Tilly Wealth Management LLC now owns 4,734 shares of the real estate investment trust's stock worth $1,030,000 after buying an additional 1,815 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its stake in shares of American Tower by 1.8% in the first quarter. Douglas Lane & Associates LLC now owns 439,144 shares of the real estate investment trust's stock worth $95,558,000 after buying an additional 7,883 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMT. Citigroup boosted their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Barclays boosted their price target on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. JMP Securities boosted their price target on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. Royal Bank of Canada boosted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, BMO Capital Markets boosted their price target on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $240.25.

American Tower Price Performance

Shares of NYSE:AMT traded up $1.03 on Thursday, hitting $215.39. The stock had a trading volume of 811,041 shares, compared to its average volume of 2,489,649. American Tower Co. has a twelve month low of $172.51 and a twelve month high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm's 50 day moving average price is $215.26 and its 200-day moving average price is $202.58. The company has a market capitalization of $100.83 billion, a price-to-earnings ratio of 90.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the firm earned $2.79 EPS. The company's revenue was down 9.6% on a year-over-year basis. On average, equities research analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio (DPR) is presently 174.81%.

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.