Syntax Research Inc. decreased its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,590 shares of the real estate investment trust's stock after selling 1,952 shares during the quarter. American Tower comprises 2.3% of Syntax Research Inc.'s holdings, making the stock its 13th largest holding. Syntax Research Inc.'s holdings in American Tower were worth $3,392,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMT. Aviva PLC grew its stake in American Tower by 13.4% during the 4th quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock worth $71,252,000 after purchasing an additional 46,009 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of 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 holdings in shares of 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 increased 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 acquiring an additional 85,693 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc increased its position 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 valued at $50,487,000 after acquiring an additional 27,194 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.
American Tower Stock Down 3.5%
Shares of AMT stock traded down $7.75 during trading hours on Tuesday, hitting $216.46. 1,945,456 shares of the company were exchanged, compared to its average volume of 2,608,277. 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 Corporation has a one year low of $172.51 and a one year high of $243.56. The business's 50-day simple moving average is $218.88 and its two-hundred day simple moving average is $209.85. The stock has a market capitalization of $101.33 billion, a price-to-earnings ratio of 55.68, a P/E/G ratio of 1.27 and a beta of 0.82.
American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.01. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The firm's quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.79 EPS. Sell-side analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.
American Tower Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 13th were given a $1.70 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.14%. American Tower's dividend payout ratio (DPR) is 174.81%.
Wall Street Analysts Forecast Growth
AMT has been the topic of several recent analyst reports. JMP Securities boosted their target price on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 30th. UBS Group upped their target price on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Raymond James Financial increased their price target on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Barclays increased their target price on American Tower from $223.00 to $246.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Bank of America initiated coverage on American Tower in a research report 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $242.31.
Check Out Our Latest Analysis on AMT
American Tower Company Profile
(
Free Report)
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.
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