Crossmark Global Holdings Inc. Acquires 6,025 Shares of American Tower Corporation (NYSE:AMT)

Crossmark Global Holdings Inc. lifted its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 10.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,031 shares of the real estate investment trust's stock after acquiring an additional 6,025 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in American Tower were worth $13,716,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AMT. Callan Capital LLC acquired a new position in American Tower during the 1st quarter worth $232,000. Envestnet Asset Management Inc. lifted its holdings in American Tower by 3.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 759,877 shares of the real estate investment trust's stock worth $165,349,000 after buying an additional 23,407 shares in the last quarter. Simmons Bank lifted its holdings in American Tower by 0.4% during the 1st quarter. Simmons Bank now owns 14,700 shares of the real estate investment trust's stock worth $3,199,000 after buying an additional 62 shares in the last quarter. HM Payson & Co. lifted its holdings in American Tower by 0.6% during the 1st quarter. HM Payson & Co. now owns 33,911 shares of the real estate investment trust's stock worth $7,379,000 after buying an additional 200 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in American Tower during the 1st quarter worth $144,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JMP Securities upped their price objective on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 30th. Scotiabank upped their price objective on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 30th. UBS Group upped their price objective on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday. Royal Bank Of Canada upped their target price on shares of American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Barclays upped their target price on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, American Tower currently has an average rating of "Buy" and an average price target of $240.88.

American Tower Trading Up 0.2%

Shares of AMT traded up $0.39 during trading hours on Wednesday, reaching $221.09. The stock had a trading volume of 733,234 shares, compared to its average volume of 2,500,411. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.43. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. The firm has a 50-day moving average of $216.63 and a 200 day moving average of $205.42. The company has a market cap of $103.50 billion, a P/E ratio of 56.82, a P/E/G ratio of 1.63 and a beta of 0.82.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 EPS. On average, sell-side analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Friday, June 13th. American Tower's payout ratio is 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.