2,422 Shares in American Tower Co. (NYSE:AMT) Acquired by Chancellor Financial Group WB LP

Chancellor Financial Group WB LP acquired a new stake in shares of American Tower Co. (NYSE:AMT - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,422 shares of the real estate investment trust's stock, valued at approximately $444,000.

A number of other large investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its position in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after purchasing an additional 2,104 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of American Tower by 8.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,607 shares of the real estate investment trust's stock valued at $1,395,000 after buying an additional 613 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of American Tower by 4.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,440 shares of the real estate investment trust's stock valued at $814,000 after buying an additional 195 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of American Tower by 5.7% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,516 shares of the real estate investment trust's stock worth $278,000 after buying an additional 82 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of American Tower by 42.0% in the 4th quarter. Blue Trust Inc. now owns 7,349 shares of the real estate investment trust's stock worth $1,348,000 after buying an additional 2,172 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Price Performance

AMT stock traded up $1.06 during mid-day trading on Friday, reaching $214.77. 5,861,516 shares of the company's stock were exchanged, compared to its average volume of 2,505,441. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 12-month low of $172.51 and a 12-month high of $243.56. The stock's 50 day moving average is $215.21 and its 200 day moving average is $202.30. The company has a market cap of $100.54 billion, a price-to-earnings ratio of 90.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the business posted $2.79 earnings per share. The business's quarterly revenue was down 9.6% compared to the same quarter last year. On average, research analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's payout ratio is currently 174.81%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AMT shares. Morgan Stanley assumed coverage on American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price on the stock. Scotiabank upped 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. Raymond James lifted their target price 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. JMP Securities boosted 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. 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 report on Wednesday, April 30th. Two equities research 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. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $240.25.

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.