B&I Capital AG reduced its position in American Tower Corporation (NYSE:AMT - Free Report) by 3.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 151,660 shares of the real estate investment trust's stock after selling 5,840 shares during the period. American Tower comprises approximately 10.7% of B&I Capital AG's holdings, making the stock its 2nd largest position. B&I Capital AG's holdings in American Tower were worth $33,001,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings 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 during the last quarter. Proficio Capital Partners LLC purchased a new stake in American Tower in the fourth quarter worth approximately $235,000. LPL Financial LLC boosted its holdings in American Tower by 3.4% in the fourth quarter. LPL Financial LLC now owns 368,499 shares of the real estate investment trust's stock worth $67,586,000 after purchasing an additional 12,271 shares during the last quarter. Crowley Wealth Management Inc. purchased a new stake in American Tower in the fourth quarter worth approximately $37,000. Finally, Mill Capital Management LLC boosted its holdings in American Tower by 1.2% in the fourth quarter. Mill Capital Management LLC now owns 120,683 shares of the real estate investment trust's stock worth $22,134,000 after purchasing an additional 1,440 shares during the last quarter. 92.69% of the stock is owned by institutional investors.
American Tower Price Performance
Shares of NYSE:AMT traded up $1.12 on Thursday, reaching $231.30. The company's stock had a trading volume of 2,034,299 shares, compared to its average volume of 2,628,511. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $243.56. The company has a market cap of $108.28 billion, a P/E ratio of 59.46, a PEG ratio of 1.28 and a beta of 0.82. The company has a 50-day simple moving average of $217.98 and a 200 day simple moving average of $208.36. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81.
American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating the consensus estimate of $2.41 by $0.34. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the firm posted $2.79 EPS. The firm's revenue was down 9.6% compared to the same quarter last year. As a group, equities research analysts anticipate 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 was paid on Friday, July 11th. Investors of record on Friday, June 13th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was Friday, June 13th. American Tower's payout ratio is currently 174.81%.
Analyst Ratings Changes
AMT has been the topic of several research reports. JMP Securities raised their target price on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 30th. Barclays raised their target price on shares of American Tower from $223.00 to $246.00 and gave the stock an "overweight" rating in a report on Wednesday. UBS Group increased their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Raymond James Financial increased their price target on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Scotiabank increased their price target on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $242.31.
Check Out Our Latest Report on AMT
American Tower Profile
(
Free Report)
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.
Recommended Stories
Before you consider American Tower, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and American Tower wasn't on the list.
While American Tower currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
