AEGON ASSET MANAGEMENT UK Plc Grows Position in American Tower Co. (NYSE:AMT)

AEGON ASSET MANAGEMENT UK Plc increased its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 13.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 231,913 shares of the real estate investment trust's stock after acquiring an additional 27,194 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in American Tower were worth $50,487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMT. Lowe Wealth Advisors LLC grew its holdings in shares of American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 109 shares during the last quarter. Minot DeBlois Advisors LLC bought a new stake in American Tower during the 4th quarter worth approximately $29,000. Graney & King LLC acquired a new position in American Tower in the 4th quarter valued at approximately $32,000. Roxbury Financial LLC bought a new position in shares of American Tower during the fourth quarter valued at $32,000. Finally, Global Wealth Strategies & Associates lifted its holdings in shares of American Tower by 193.5% during the first quarter. Global Wealth Strategies & Associates now owns 182 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on AMT shares. Morgan Stanley began coverage on American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective for the company. Barclays increased their price target on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Citigroup lifted their price objective on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. BMO Capital Markets upped their target price on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Finally, UBS Group raised their price target on shares of American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $240.25.

American Tower Stock Up 0.8%

Shares of AMT traded up $1.78 during trading hours on Thursday, hitting $216.14. The stock had a trading volume of 2,526,709 shares, compared to its average volume of 2,837,363. The firm has a 50 day simple moving average of $215.26 and a 200-day simple moving average of $202.58. The firm has a market capitalization of $101.18 billion, a P/E ratio of 91.20, a price-to-earnings-growth ratio of 1.29 and a beta of 0.82. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56.

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

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be issued a $1.70 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.15%. American Tower's dividend payout ratio is presently 174.81%.

About American Tower

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.