Crossmark Global Holdings Inc. Has $13.72 Million Holdings in American Tower Corporation (NYSE:AMT)

Crossmark Global Holdings Inc. increased its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 10.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 large investors also recently bought and sold shares of the business. Elmwood Wealth Management Inc. raised its stake in American Tower by 2.5% during the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock worth $454,000 after purchasing an additional 50 shares during the period. 4J Wealth Management LLC boosted its position in shares of American Tower by 4.0% in the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock worth $283,000 after buying an additional 50 shares during the period. Glenview Trust co grew its position in American Tower by 0.8% in the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock valued at $1,294,000 after acquiring an additional 54 shares in the last quarter. CreativeOne Wealth LLC increased its stake in American Tower by 2.1% during the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock worth $477,000 after buying an additional 54 shares during the period. Finally, Fortitude Advisory Group L.L.C. increased its position in shares of American Tower by 2.9% during the first quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock worth $416,000 after acquiring an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Bank of America initiated coverage on American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 target price for the company. UBS Group increased their price objective on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday. Raymond James Financial boosted 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 report on Wednesday, April 30th. Morgan Stanley assumed coverage on American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price target for the company. Finally, Royal Bank Of Canada upped their price objective on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $240.88.

American Tower Stock Performance

AMT traded down $0.70 during trading on Thursday, reaching $221.13. 1,459,188 shares of the company were exchanged, compared to its average volume of 2,503,683. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43. The firm has a 50 day moving average of $216.55 and a 200 day moving average of $205.54. The stock has a market cap of $103.52 billion, a P/E ratio of 56.85, a PEG ratio of 1.64 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping the consensus estimate 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%. The company's quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.79 earnings per share. On average, sell-side analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal 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 paid a dividend of $1.70 per share. The ex-dividend date is Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.08%. 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.