Gateway Investment Advisers LLC decreased its position in American Tower Co. (NYSE:AMT - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 37,365 shares of the real estate investment trust's stock after selling 1,876 shares during the quarter. Gateway Investment Advisers LLC's holdings in American Tower were worth $8,131,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Glenview Trust co raised its stake in American Tower by 0.8% during the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock worth $1,294,000 after acquiring an additional 54 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of 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 purchasing an additional 54 shares in the last quarter. Veracity Capital LLC lifted its holdings in shares of American Tower by 4.7% in the 1st quarter. Veracity Capital LLC now owns 1,237 shares of the real estate investment trust's stock worth $269,000 after purchasing an additional 56 shares in the last quarter. Safe Harbor Fiduciary LLC lifted its holdings in shares of American Tower by 1.1% in the 4th quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust's stock worth $978,000 after purchasing an additional 58 shares in the last quarter. Finally, Sunburst Financial Group LLC raised its position in American Tower by 4.9% in the 4th quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust's stock valued at $248,000 after buying an additional 63 shares during the last quarter. Institutional investors own 92.69% of the company's stock.
Analyst Ratings Changes
AMT has been the subject of several research reports. Bank of America started coverage on American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 price target for the company. JMP Securities lifted their price target on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. UBS Group lifted their price target on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Barclays raised their price objective on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Finally, Morgan Stanley assumed coverage on American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $240.25.
Check Out Our Latest Report on AMT
American Tower Stock Performance
Shares of AMT stock traded down $3.66 on Friday, hitting $212.57. The company had a trading volume of 2,516,265 shares, compared to its average volume of 2,503,370. The firm has a market cap of $99.51 billion, a P/E ratio of 89.69, a price-to-earnings-growth ratio of 1.29 and a beta of 0.82. The company has a 50-day moving average price of $215.09 and a 200-day moving average price of $202.79. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a twelve month low of $172.51 and a twelve month high of $243.56.
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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter in the previous year, the firm posted $2.79 EPS. The company's revenue for the quarter was down 9.6% on a year-over-year basis. As a group, equities research analysts predict that American Tower Co. will post 10.14 earnings per share for the current fiscal year.
American Tower Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio (DPR) is 174.81%.
About American Tower
(
Free Report)
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.
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