Bath Savings Trust Co Has $13.49 Million Stake in American Tower Co. (NYSE:AMT)

Bath Savings Trust Co trimmed its holdings in American Tower Co. (NYSE:AMT - Free Report) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,984 shares of the real estate investment trust's stock after selling 2,392 shares during the period. American Tower comprises approximately 1.4% of Bath Savings Trust Co's holdings, making the stock its 23rd largest holding. Bath Savings Trust Co's holdings in American Tower were worth $13,488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC grew its stake in American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after purchasing an additional 2,104 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of American Tower by 5.7% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,516 shares of the real estate investment trust's stock valued at $278,000 after acquiring an additional 82 shares during the period. SteelPeak Wealth LLC bought a new position in American Tower in the 4th quarter worth about $924,000. Swedbank AB boosted its position in shares of American Tower by 1.7% during the fourth quarter. Swedbank AB now owns 613,297 shares of the real estate investment trust's stock worth $112,485,000 after buying an additional 10,456 shares during the period. Finally, Strategic Planning Group LLC grew its stake in shares of American Tower by 4.9% in the fourth quarter. Strategic Planning Group LLC now owns 20,816 shares of the real estate investment trust's stock worth $3,818,000 after purchasing an additional 978 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Scotiabank upped their target price on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Citigroup lifted their price objective on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. UBS Group upped 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. Finally, 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. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, American Tower currently has an average rating of "Buy" and a consensus target price of $240.25.

American Tower Stock Performance

NYSE AMT traded up $1.06 during trading on Friday, hitting $214.77. The company's stock had a trading volume of 5,861,516 shares, compared to its average volume of 2,505,441. American Tower Co. has a 52 week low of $172.51 and a 52 week high of $243.56. The firm has a market cap of $100.54 billion, a P/E ratio of 90.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The firm has a 50 day moving average price of $215.21 and a 200 day moving average price of $202.20. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

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. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm posted $2.79 earnings per share. American Tower's revenue was down 9.6% compared to the same quarter last year. Equities research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio is currently 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.