Blair William & Co. IL Has $169.12 Million Holdings in American Tower Corporation (NYSE:AMT)

Key Points

• Blair William & Co. IL reduced its holdings in American Tower Corporation by 1.7% in the first quarter, owning about $169.12 million worth of shares at the end of the period.
• The company reported $2.60 earnings per share in its latest quarter, surpassing analysts' expectations, but noted a 9.4% decline in revenue compared to the same quarter last year.
• American Tower's recent quarterly dividend yield is 3.2% with an annual payout of $6.80, despite a high dividend payout ratio of 247.27%.

Blair William & Co. IL decreased its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 777,189 shares of the real estate investment trust's stock after selling 13,308 shares during the quarter. Blair William & Co. IL owned about 0.17% of American Tower worth $169,116,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC lifted 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 valued at $727,000 after buying an additional 2,104 shares in the last quarter. World Investment Advisors lifted its stake in American Tower by 42.7% in the fourth quarter. World Investment Advisors now owns 5,773 shares of the real estate investment trust's stock valued at $1,059,000 after buying an additional 1,728 shares in the last quarter. Arete Wealth Advisors LLC lifted its stake in American Tower by 26.3% in the fourth quarter. Arete Wealth Advisors LLC now owns 5,015 shares of the real estate investment trust's stock valued at $920,000 after buying an additional 1,045 shares in the last quarter. Smith Moore & CO. lifted its stake in American Tower by 5.3% in the fourth quarter. Smith Moore & CO. now owns 4,760 shares of the real estate investment trust's stock valued at $873,000 after buying an additional 239 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new position in American Tower in the fourth quarter valued at approximately $13,938,000. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Performance

Shares of AMT stock opened at $212.18 on Friday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.81 and a current ratio of 0.95. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The company has a market capitalization of $99.33 billion, a P/E ratio of 77.16, a PEG ratio of 1.17 and a beta of 0.82. The stock has a 50 day moving average price of $218.73 and a two-hundred day moving average price of $210.53.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the company earned $2.79 earnings per share. The firm's quarterly revenue was down 9.4% compared to the same quarter last year. Analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were paid a $1.70 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. American Tower's dividend payout ratio (DPR) is 247.27%.

Analysts Set New Price Targets

A number of research analysts have weighed in on AMT shares. Wells Fargo & Company cut their price target on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday. The Goldman Sachs Group reiterated a "buy" rating on shares of American Tower in a report on Tuesday. JMP Securities lifted their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. Barclays lifted their price objective on shares of American Tower from $223.00 to $246.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Scotiabank lifted their price objective 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. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $243.88.

Insider Activity at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.17% of the stock is owned by company insiders.

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.

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