American Tower Co. (NYSE:AMT) Shares Acquired by Czech National Bank

Czech National Bank raised its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 107,334 shares of the real estate investment trust's stock after purchasing an additional 6,016 shares during the quarter. Czech National Bank's holdings in American Tower were worth $23,356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMT. Glenview Trust co boosted its stake in shares of American Tower by 0.8% during the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock worth $1,294,000 after acquiring an additional 54 shares during the last quarter. CreativeOne Wealth LLC raised its stake in shares of American Tower by 2.1% in the fourth 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. Safe Harbor Fiduciary LLC raised its stake in shares of American Tower by 1.1% in the fourth quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust's stock worth $978,000 after buying an additional 58 shares during the period. Resonant Capital Advisors LLC lifted its position in shares of American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock valued at $206,000 after buying an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC grew its stake in shares of American Tower by 2.9% during the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock valued at $398,000 after acquiring an additional 61 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Up 0.5%

American Tower stock traded up $1.13 during midday trading on Thursday, reaching $215.49. The company's stock had a trading volume of 1,013,066 shares, compared to its average volume of 2,490,620. The stock's 50-day simple moving average is $215.26 and its 200-day simple moving average is $202.58. The stock has a market capitalization of $100.88 billion, a P/E ratio of 90.92, a PEG ratio of 1.29 and a beta of 0.82. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 52-week low of $172.51 and a 52-week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last issued 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 firm had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm's revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.79 earnings per share. On average, sell-side analysts expect that American Tower Co. will post 10.14 EPS for the current 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 paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's payout ratio is 174.81%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays lifted their target price on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Citigroup increased their price target on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a report on Monday, March 10th. JMP Securities boosted their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. Morgan Stanley started coverage on American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target for the company. Finally, Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $240.25.

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.