American Tower Corporation (NYSE:AMT) Position Trimmed by B&I Capital AG

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

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. United Bank increased its position in shares of American Tower by 10.2% during the first quarter. United Bank now owns 5,755 shares of the real estate investment trust's stock worth $1,252,000 after buying an additional 532 shares during the period. Choreo LLC grew its holdings in American Tower by 0.7% in the first 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 grew its holdings in American Tower by 15.4% in the first 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 acquired a new stake in American Tower in the first quarter worth $3,254,000. Finally, Vista Capital Partners Inc. bought a new position in shares of American Tower in the first quarter valued at $240,000. Institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley started coverage on shares of American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price for the company. Scotiabank upped their price target on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. JMP Securities upped their target price on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 30th. Bank of America assumed coverage on shares of American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 price target on the stock. Finally, Raymond James Financial increased their price objective on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, American Tower has an average rating of "Buy" and a consensus target price of $240.88.

American Tower Stock Performance

AMT stock traded up $6.01 during trading on Tuesday, reaching $232.51. 2,274,341 shares of the company's stock were exchanged, compared to its average volume of 2,506,345. 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 1-year low of $172.51 and a 1-year high of $243.56. The company's fifty day moving average price is $216.53 and its 200-day moving average price is $207.73. The firm has a market cap of $108.85 billion, a PE ratio of 59.77, a P/E/G ratio of 1.26 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last released 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 company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the company posted $2.79 EPS. The firm's revenue was down 9.6% on a year-over-year basis. On average, research analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were issued 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 dividend yield of 2.92%. American Tower's dividend payout ratio (DPR) is presently 174.81%.

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.