Madison Asset Management LLC Has $34.60 Million Stock Position in American Tower Corporation (NYSE:AMT)

Madison Asset Management LLC reduced its position in American Tower Corporation (NYSE:AMT - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 159,006 shares of the real estate investment trust's stock after selling 2,697 shares during the quarter. Madison Asset Management LLC's holdings in American Tower were worth $34,600,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aviva PLC grew its holdings in shares of American Tower by 13.4% during the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock valued at $71,252,000 after purchasing an additional 46,009 shares during the last quarter. Golden State Wealth Management LLC lifted its position in American Tower by 23.0% in the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 69 shares during the last quarter. Shum Financial Group Inc. lifted its position in American Tower by 3.5% in the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock valued at $913,000 after purchasing an additional 141 shares during the last quarter. Mariner LLC lifted its position in American Tower by 30.9% in the 4th quarter. Mariner LLC now owns 363,088 shares of the real estate investment trust's stock valued at $66,585,000 after purchasing an additional 85,693 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc grew its holdings in American Tower by 13.3% in the 1st quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust's stock worth $50,487,000 after buying an additional 27,194 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Stock Performance

Shares of American Tower stock traded down $1.49 during trading on Friday, reaching $229.75. The company's stock had a trading volume of 1,023,493 shares, compared to its average volume of 2,614,888. 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 moving average price is $218.37 and its 200-day moving average price is $208.71. The firm has a market cap of $107.55 billion, a price-to-earnings ratio of 59.06, a price-to-earnings-growth ratio of 1.27 and a beta of 0.82. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56.

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 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the company posted $2.79 earnings per share. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. As a group, equities research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were paid a dividend of $1.70 per share. The ex-dividend date was Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 2.96%. American Tower's dividend payout ratio is 174.81%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AMT shares. Wells Fargo & Company increased their price objective on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Morgan Stanley assumed coverage on American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target for the company. Bank of America began coverage on American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 price target for the company. Royal Bank Of Canada lifted their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, JMP Securities raised their price objective on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $242.31.

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.