Crossmark Global Holdings Inc. grew its position in American Tower Corporation (NYSE:AMT - Free Report) by 10.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after acquiring an additional 2,104 shares in the last quarter. Victory Capital Management Inc. increased its stake in American Tower by 3.9% during the fourth quarter. Victory Capital Management Inc. now owns 173,053 shares of the real estate investment trust's stock worth $31,740,000 after purchasing an additional 6,453 shares during the period. Assetmark Inc. increased its stake in shares of American Tower by 524.8% during the fourth quarter. Assetmark Inc. now owns 14,770 shares of the real estate investment trust's stock worth $2,709,000 after buying an additional 12,406 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of American Tower during the fourth quarter worth approximately $235,000. Finally, E Fund Management Co. Ltd. boosted its holdings in American Tower by 47.0% in the fourth quarter. E Fund Management Co. Ltd. now owns 1,505 shares of the real estate investment trust's stock valued at $276,000 after purchasing an additional 481 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
AMT has been the subject of several research analyst reports. UBS Group increased their price objective on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday. Scotiabank increased their price objective on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Wells Fargo & Company increased their price target on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. JMP Securities increased their price target on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 30th. Finally, Barclays increased their price target on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Two investment 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 stock. According to data from MarketBeat, American Tower presently has an average rating of "Buy" and a consensus price target of $240.88.
Check Out Our Latest Report on AMT
American Tower Stock Up 0.4%
Shares of AMT stock traded up $0.92 on Wednesday, reaching $221.62. 1,712,846 shares of the company were exchanged, compared to its average volume of 2,507,859. The company has a market cap of $103.75 billion, a price-to-earnings ratio of 56.97, a PEG ratio of 1.64 and a beta of 0.82. The company has a 50-day moving average of $216.55 and a 200-day moving average of $205.54. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81. 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 posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating the consensus estimate of $2.41 by $0.34. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the business posted $2.79 EPS. The company's revenue for the quarter was down 9.6% on a year-over-year basis. Analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current 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 dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio is currently 174.81%.
American Tower Profile
(
Free Report)
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.
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