Stock Yards Bank & Trust Co. decreased its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,255 shares of the real estate investment trust's stock after selling 8,285 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in American Tower were worth $22,686,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Minot DeBlois Advisors LLC bought a new stake in shares of American Tower in the 4th quarter valued at $29,000. Roxbury Financial LLC bought a new position in American Tower in the 4th quarter valued at $32,000. Graney & King LLC bought a new stake in American Tower in the fourth quarter worth about $32,000. Lowe Wealth Advisors LLC grew its stake 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 worth $35,000 after acquiring an additional 109 shares during the period. Finally, Crowley Wealth Management Inc. purchased a new position in American Tower in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 92.69% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on AMT. Morgan Stanley initiated coverage on American Tower in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective on the stock. Raymond James upped their price objective on shares of American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Bank of America initiated coverage on American Tower in a research report on Monday, May 19th. They issued a "buy" rating and a $255.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, American Tower currently has a consensus rating of "Buy" and an average target price of $240.25.
Check Out Our Latest Analysis on American Tower
American Tower Trading Up 0.1%
NYSE AMT traded up $0.16 during trading hours on Tuesday, hitting $215.14. 1,647,006 shares of the company's stock were exchanged, compared to its average volume of 2,486,592. American Tower Co. has a 12-month low of $172.51 and a 12-month high of $243.56. The business's 50 day moving average is $215.13 and its 200-day moving average is $203.08. The firm has a market capitalization of $100.72 billion, a P/E ratio of 90.78, a price-to-earnings-growth 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 (NYSE:AMT - Get Free Report) last posted its earnings results 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 business had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. During the same period in the previous year, the company posted $2.79 earnings per share. The business's revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, analysts anticipate that American Tower Co. will post 10.14 EPS 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 $1.70 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.16%. American Tower's payout ratio is currently 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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