Crestwood Advisors Group LLC Has $4.92 Million Position in American Tower Corporation (NYSE:AMT)

Crestwood Advisors Group LLC lifted its position in American Tower Corporation (NYSE:AMT - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,598 shares of the real estate investment trust's stock after buying an additional 2,353 shares during the quarter. Crestwood Advisors Group LLC's holdings in American Tower were worth $4,917,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in AMT. Aviva PLC raised its stake in shares of American Tower by 13.4% in the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock valued at $71,252,000 after purchasing an additional 46,009 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock worth $80,000 after buying an additional 69 shares during the last quarter. Shum Financial Group Inc. boosted its holdings in American Tower by 3.5% during the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock worth $913,000 after buying an additional 141 shares during the last quarter. Mariner LLC raised its position in shares of American Tower by 30.9% during the fourth quarter. Mariner LLC now owns 363,088 shares of the real estate investment trust's stock worth $66,585,000 after purchasing an additional 85,693 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc raised its position in shares of American Tower by 13.3% during the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust's stock worth $50,487,000 after purchasing an additional 27,194 shares during the period. Institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

AMT traded up $1.21 during trading on Thursday, hitting $231.39. The stock had a trading volume of 1,277,797 shares, compared to its average volume of 2,621,822. The firm has a market cap of $108.32 billion, a price-to-earnings ratio of 59.51, a P/E/G ratio of 1.28 and a beta of 0.82. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50 day moving average price of $217.98 and a 200-day moving average price of $208.36. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The company's quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 EPS. As a group, research analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.94%. American Tower's dividend payout ratio (DPR) is currently 174.81%.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their price target on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. JMP Securities lifted their target price on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. Wells Fargo & Company lifted their target price on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Barclays boosted their price target on American Tower from $223.00 to $246.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Morgan Stanley initiated coverage on American Tower in a research report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $242.31.

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.