Keybank National Association OH Sells 12,260 Shares of American Tower Corporation (NYSE:AMT)

Keybank National Association OH cut its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,310 shares of the real estate investment trust's stock after selling 12,260 shares during the quarter. Keybank National Association OH's holdings in American Tower were worth $16,387,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after buying an additional 2,104 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of American Tower by 16.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 31,559 shares of the real estate investment trust's stock valued at $5,788,000 after acquiring an additional 4,345 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of American Tower by 3.9% during the 4th quarter. Victory Capital Management Inc. now owns 173,053 shares of the real estate investment trust's stock worth $31,740,000 after acquiring an additional 6,453 shares in the last quarter. Assetmark Inc. grew its holdings in shares of American Tower by 524.8% in the 4th quarter. Assetmark Inc. now owns 14,770 shares of the real estate investment trust's stock worth $2,709,000 after acquiring an additional 12,406 shares during the last quarter. Finally, SPC Financial Inc. raised its position in shares of American Tower by 6.7% during the fourth quarter. SPC Financial Inc. now owns 3,276 shares of the real estate investment trust's stock worth $601,000 after purchasing an additional 205 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Down 0.5%

Shares of NYSE:AMT traded down $1.09 during midday trading on Friday, hitting $221.75. 1,369,114 shares of the stock were exchanged, compared to its average volume of 2,501,757. The company has a market capitalization of $103.81 billion, a PE ratio of 57.00, a P/E/G ratio of 1.65 and a beta of 0.82. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $243.56. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81. The business's fifty day simple moving average is $216.46 and its two-hundred day simple moving average is $204.75.

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 the consensus estimate 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 30.20% and a net margin of 17.34%. The business's revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.79 EPS. As a group, research 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 announced 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. This represents a $6.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio (DPR) is presently 174.81%.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of recent analyst reports. Bank of America started coverage on American Tower in a research report on Monday, May 19th. They issued a "buy" rating and a $255.00 price target for the company. JMP Securities upped 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. Barclays lifted their target price on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. UBS Group upped their price target on shares of American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley initiated coverage on shares of American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, American Tower currently has an average rating of "Buy" and an average 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.