Crossmark Global Holdings Inc. Grows Stock Holdings in American Tower Corporation (NYSE:AMT)

Crossmark Global Holdings Inc. raised its position in American Tower Corporation (NYSE:AMT - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,031 shares of the real estate investment trust's stock after buying an additional 6,025 shares during the period. Crossmark Global Holdings Inc.'s holdings in American Tower were worth $13,716,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Partners Group Holding AG increased its stake in shares of American Tower by 8.3% during 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 holdings 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 worth $71,252,000 after purchasing an additional 46,009 shares during the period. Shum Financial Group Inc. raised its position in shares of American Tower by 3.5% in 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 in the last quarter. Mariner LLC raised its position in shares of American Tower by 30.9% in the fourth quarter. Mariner LLC now owns 363,088 shares of the real estate investment trust's stock worth $66,585,000 after buying an additional 85,693 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc raised its position in shares of American Tower by 13.3% in 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 buying an additional 27,194 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMT. Raymond James Financial increased their price objective on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. JMP Securities raised their price target 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. UBS Group raised their price target on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Wells Fargo & Company raised their price target on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, Scotiabank raised their price target on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, American Tower currently has an average rating of "Buy" and a consensus target price of $240.25.

American Tower Trading Down 0.9%

Shares of NYSE AMT traded down $2.00 during trading hours on Monday, hitting $219.75. The company's stock had a trading volume of 1,894,852 shares, compared to its average volume of 2,505,262. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $102.87 billion, a price-to-earnings ratio of 56.49, a P/E/G ratio of 1.65 and a beta of 0.82. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The business has a 50-day simple moving average of $216.46 and a 200-day simple moving average of $205.07.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.34. The company had revenue of $2.56 billion for 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%. American Tower's quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the firm earned $2.79 earnings per share. On average, analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.09%. American Tower's payout ratio is 174.81%.

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.