Bartlett & CO. Wealth Management LLC Trims Stock Holdings in American Tower Corporation (NYSE:AMT)

Bartlett & CO. Wealth Management LLC reduced its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 276,627 shares of the real estate investment trust's stock after selling 5,214 shares during the quarter. Bartlett & CO. Wealth Management LLC owned 0.06% of American Tower worth $60,194,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Glenview Trust co increased its stake in shares of American Tower by 0.8% in the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock valued at $1,294,000 after purchasing an additional 54 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of American Tower by 2.1% in the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock valued at $477,000 after buying an additional 54 shares in the last quarter. Fortitude Advisory Group L.L.C. raised its stake in shares of American Tower by 2.9% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock worth $416,000 after buying an additional 54 shares during the period. Veracity Capital LLC lifted its position in shares of American Tower by 4.7% during the 1st quarter. Veracity Capital LLC now owns 1,237 shares of the real estate investment trust's stock valued at $269,000 after buying an additional 56 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC lifted its position in shares of American Tower by 1.1% during the 4th quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust's stock valued at $978,000 after buying an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Trading Up 1.5%

Shares of AMT traded up $3.17 during midday trading on Monday, reaching $220.95. The company had a trading volume of 1,166,218 shares, compared to its average volume of 2,737,207. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56. 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 firm has a 50 day simple moving average of $215.69 and a 200-day simple moving average of $203.92. The stock has a market cap of $103.44 billion, a PE ratio of 56.80, a price-to-earnings-growth ratio of 1.62 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results 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. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. American Tower's quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 earnings per share. Research analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio is presently 174.81%.

Analyst Ratings Changes

A number of equities analysts have weighed in on AMT shares. Wells Fargo & Company upped their price objective on shares of American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Royal Bank Of Canada upped their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Citigroup raised their price target on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Raymond James Financial boosted their price objective 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. Finally, UBS Group increased their target price on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $240.25.

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.