B&I Capital AG Cuts Holdings in American Tower Corporation (NYSE:AMT)

B&I Capital AG lowered its stake in American Tower Corporation (NYSE:AMT - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,660 shares of the real estate investment trust's stock after selling 5,840 shares during the quarter. American Tower makes up 10.7% of B&I Capital AG's investment portfolio, making the stock its 2nd largest position. B&I Capital AG's holdings in American Tower were worth $33,001,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. United Bank boosted its stake in American Tower by 10.2% in the 1st quarter. United Bank now owns 5,755 shares of the real estate investment trust's stock worth $1,252,000 after purchasing an additional 532 shares during the period. Choreo LLC boosted its stake in American Tower by 0.7% in the 1st quarter. Choreo LLC now owns 12,903 shares of the real estate investment trust's stock worth $2,808,000 after purchasing an additional 92 shares during the period. Hartford Funds Management Co LLC boosted its stake in American Tower by 15.4% in the 1st quarter. Hartford Funds Management Co LLC now owns 6,513 shares of the real estate investment trust's stock worth $1,417,000 after purchasing an additional 868 shares during the period. Tabor Asset Management LP bought a new position in American Tower in the 1st quarter worth about $3,254,000. Finally, Vista Capital Partners Inc. purchased a new stake in shares of American Tower in the 1st quarter valued at about $240,000. Institutional investors own 92.69% of the company's stock.

American Tower Price Performance

Shares of NYSE AMT traded down $2.05 during trading hours on Wednesday, reaching $230.30. 1,839,134 shares of the stock traded hands, compared to its average volume of 2,509,210. The company's 50-day simple moving average is $216.53 and its two-hundred day simple moving average is $207.73. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.43. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $243.56. The company has a market capitalization of $107.81 billion, a P/E ratio of 59.20, a price-to-earnings-growth ratio of 1.26 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company earned $2.79 EPS. American Tower's revenue for the quarter was down 9.6% compared to the same quarter last year. Equities research analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 2.95%. American Tower's payout ratio is 174.81%.

Analyst Ratings Changes

Several research firms have weighed in on AMT. Scotiabank raised their price target on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Morgan Stanley began coverage on American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price target on the stock. UBS Group raised their price target on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. JMP Securities raised their price target on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. Finally, Bank of America began coverage on American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price target on the stock. Two research 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 stock. According to MarketBeat, American Tower currently has a consensus rating of "Buy" and a consensus target price of $242.31.

American Tower Company 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.