Victory Capital Management Inc. Has $40.51 Million Position in American Tower Corporation (NYSE:AMT)

Victory Capital Management Inc. grew its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 186,161 shares of the real estate investment trust's stock after purchasing an additional 13,108 shares during the period. Victory Capital Management Inc.'s holdings in American Tower were worth $40,509,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its position in shares of 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. Proficio Capital Partners LLC acquired a new stake in shares of American Tower during the 4th quarter valued at about $235,000. Teacher Retirement System of Texas grew its position in shares of American Tower by 1.9% during the 4th quarter. Teacher Retirement System of Texas now owns 133,377 shares of the real estate investment trust's stock valued at $24,463,000 after acquiring an additional 2,494 shares during the period. Douglass Winthrop Advisors LLC grew its position in shares of American Tower by 2.8% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 5,377 shares of the real estate investment trust's stock valued at $986,000 after acquiring an additional 144 shares during the period. Finally, Millstone Evans Group LLC acquired a new stake in shares of American Tower during the 4th quarter valued at about $129,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Price Performance

American Tower stock traded up $1.63 during mid-day trading on Monday, hitting $226.40. The company's stock had a trading volume of 1,458,474 shares, compared to its average volume of 2,503,150. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.43. The stock has a market capitalization of $105.99 billion, a P/E ratio of 58.20, a P/E/G ratio of 1.25 and a beta of 0.82. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56. The stock's fifty day moving average price is $216.53 and its two-hundred day moving average price is $207.73.

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 for the quarter, topping the consensus estimate of $2.41 by $0.34. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The firm 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 EPS. The company's quarterly revenue was down 9.6% compared to the same quarter last year. Research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Friday, June 13th. American Tower's dividend payout ratio is presently 174.81%.

Analysts Set New Price Targets

AMT has been the topic of a number of research reports. Morgan Stanley assumed coverage on shares of American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price target on the stock. UBS Group raised their target price on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Scotiabank raised their target price on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 30th. Raymond James Financial raised their target price on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-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 issued a "buy" rating and a $255.00 target price on the stock. Two investment 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. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $240.88.

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.