American Tower Co. (NYSE:AMT) Shares Sold by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH cut its stake in American Tower Co. (NYSE:AMT - Free Report) by 4.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 351,739 shares of the real estate investment trust's stock after selling 17,438 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.08% of American Tower worth $76,538,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after buying an additional 2,104 shares in the last quarter. Empowered Funds LLC boosted its holdings in American Tower by 17.7% during the fourth quarter. Empowered Funds LLC now owns 11,693 shares of the real estate investment trust's stock worth $2,145,000 after buying an additional 1,758 shares in the last quarter. Savant Capital LLC boosted its holdings in American Tower by 5.5% during the fourth quarter. Savant Capital LLC now owns 6,214 shares of the real estate investment trust's stock worth $1,140,000 after buying an additional 324 shares in the last quarter. Principle Wealth Partners LLC boosted its holdings in American Tower by 4.0% during the fourth quarter. Principle Wealth Partners LLC now owns 4,162 shares of the real estate investment trust's stock worth $763,000 after buying an additional 160 shares in the last quarter. Finally, Summit Trail Advisors LLC boosted its holdings in American Tower by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 6,412 shares of the real estate investment trust's stock worth $1,186,000 after buying an additional 87 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Raymond James boosted their price target on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. BMO Capital Markets increased their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Barclays increased their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Finally, JMP Securities upped their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $240.25.

American Tower Trading Down 1.4%

NYSE AMT traded down $2.94 during trading hours on Friday, reaching $214.76. The company had a trading volume of 2,455,578 shares, compared to its average volume of 2,490,204. The stock has a 50-day moving average of $214.91 and a 200 day moving average of $203.04. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market capitalization of $100.54 billion, a P/E ratio of 90.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.81.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. American Tower's revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be given 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 3.17%. American Tower's dividend payout ratio is presently 174.81%.

About American Tower

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.