American Tower Corporation (NYSE:AMT) Holdings Boosted by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd lifted its stake in American Tower Corporation (NYSE:AMT - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,739 shares of the real estate investment trust's stock after purchasing an additional 2,430 shares during the period. American Tower accounts for about 3.5% of Ausbil Investment Management Ltd's investment portfolio, making the stock its 10th biggest holding. Ausbil Investment Management Ltd's holdings in American Tower were worth $5,383,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after acquiring an additional 2,104 shares during the period. Venturi Wealth Management LLC lifted its position in American Tower by 108.0% during the 4th quarter. Venturi Wealth Management LLC now owns 337 shares of the real estate investment trust's stock valued at $62,000 after acquiring an additional 175 shares during the period. Sigma Planning Corp lifted its position in American Tower by 7.5% during the 4th quarter. Sigma Planning Corp now owns 7,363 shares of the real estate investment trust's stock valued at $1,350,000 after acquiring an additional 514 shares during the period. Fisher Funds Management LTD purchased a new position in American Tower during the 4th quarter valued at about $58,905,000. Finally, Howard Capital Management Inc. lifted its position in American Tower by 2.1% during the 4th quarter. Howard Capital Management Inc. now owns 8,782 shares of the real estate investment trust's stock valued at $1,611,000 after acquiring an additional 183 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of AMT stock traded up $2.44 during trading hours on Tuesday, reaching $224.07. The company had a trading volume of 2,219,024 shares, compared to its average volume of 2,494,453. The business has a fifty day moving average price of $215.86 and a 200-day moving average price of $203.55. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56. The firm has a market cap of $104.90 billion, a PE ratio of 57.60, a price-to-earnings-growth ratio of 1.64 and a beta of 0.81. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) 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 the consensus estimate of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The firm's revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.79 earnings per share. Sell-side analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed 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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Friday, June 13th. American Tower's payout ratio is 174.81%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. JMP Securities raised their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research note on Wednesday, April 30th. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. UBS Group raised their price objective on shares of American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Bank of America assumed coverage on shares of American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 price objective for the company. Two investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus 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.