Financial Counselors Inc. Has $24.67 Million Stake in American Tower Corporation (NYSE:AMT)

Financial Counselors Inc. lowered its stake in American Tower Corporation (NYSE:AMT - Free Report) by 11.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,376 shares of the real estate investment trust's stock after selling 14,217 shares during the quarter. Financial Counselors Inc.'s holdings in American Tower were worth $24,671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Cohen & Steers Inc. increased its stake in American Tower by 21.8% in the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after purchasing an additional 3,437,602 shares in the last quarter. Geode Capital Management LLC grew its stake in American Tower by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock valued at $2,074,956,000 after acquiring an additional 129,192 shares in the last quarter. FMR LLC grew its stake in American Tower by 5.0% during the 4th quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock valued at $2,050,390,000 after acquiring an additional 537,136 shares in the last quarter. Capital Research Global Investors grew its stake in American Tower by 66.5% during the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock valued at $1,570,547,000 after acquiring an additional 3,421,413 shares in the last quarter. Finally, Norges Bank purchased a new position in American Tower during the 4th quarter valued at about $1,164,851,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

AMT has been the topic of several research analyst reports. Bank of America initiated coverage on American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 target price on the stock. Scotiabank lifted their target price on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada lifted their target price on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Morgan Stanley initiated coverage on American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price on the stock. Finally, Barclays lifted their target price on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, American Tower currently has an average rating of "Buy" and a consensus target price of $240.88.

American Tower Stock Performance

American Tower stock traded up $0.92 during trading hours on Wednesday, reaching $221.62. 1,712,846 shares of the company were exchanged, compared to its average volume of 2,507,859. The firm has a market cap of $103.75 billion, a price-to-earnings ratio of 56.97, a PEG ratio of 1.64 and a beta of 0.82. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43. The stock has a 50-day moving average of $216.55 and a 200 day moving average of $205.54. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results 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 firm had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The company's revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.79 earnings per share. As a group, research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.70 per share. The ex-dividend date is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.07%. American Tower's dividend payout ratio (DPR) is presently 174.81%.

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.