Border to Coast Pensions Partnership Ltd Has $82.07 Million Position in American Tower Corporation (NYSE:AMT)

Border to Coast Pensions Partnership Ltd lowered its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 1.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 377,180 shares of the real estate investment trust's stock after selling 5,000 shares during the quarter. American Tower comprises 1.7% of Border to Coast Pensions Partnership Ltd's portfolio, making the stock its 14th largest holding. Border to Coast Pensions Partnership Ltd owned approximately 0.08% of American Tower worth $82,074,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMT. Partners Group Holding AG grew its position in American Tower by 8.3% in the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock worth $69,438,000 after purchasing an additional 28,988 shares during the last quarter. Aviva PLC increased its stake in American Tower by 13.4% during the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock valued at $71,252,000 after acquiring an additional 46,009 shares during the period. LGT Group Foundation raised its holdings in American Tower by 16.9% in the 4th quarter. LGT Group Foundation now owns 42,608 shares of the real estate investment trust's stock valued at $7,815,000 after acquiring an additional 6,165 shares in the last quarter. Raymond James Financial Inc. acquired a new position in American Tower in the 4th quarter valued at approximately $193,246,000. Finally, Cbre Investment Management Listed Real Assets LLC lifted its position in shares of American Tower by 2.5% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 769,720 shares of the real estate investment trust's stock worth $141,174,000 after acquiring an additional 18,555 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMT shares. Wells Fargo & Company boosted their price objective on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Bank of America began coverage on shares of American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price target on the stock. Scotiabank raised their price objective on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 30th. Citigroup lifted their target price on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Finally, UBS Group raised their price target on shares of American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Two investment 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $240.25.

American Tower Stock Down 1.2%

Shares of NYSE:AMT opened at $217.64 on Friday. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The firm has a market cap of $101.89 billion, a P/E ratio of 55.95, a P/E/G ratio of 1.63 and a beta of 0.81. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.43. The company's 50-day moving average price is $215.79 and its two-hundred day moving average price is $203.72.

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 earnings per share for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. American Tower's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.79 earnings per share. As a group, research analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.12%. American Tower's payout ratio is presently 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.

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corporation (NYSE:AMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.