Greenleaf Trust Purchases 12,933 Shares of American Tower Corporation (NYSE:AMT)

Greenleaf Trust lifted its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 7.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,824 shares of the real estate investment trust's stock after buying an additional 12,933 shares during the quarter. American Tower accounts for 0.3% of Greenleaf Trust's portfolio, making the stock its 18th biggest holding. Greenleaf Trust's holdings in American Tower were worth $38,259,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AMT. DekaBank Deutsche Girozentrale raised its holdings in shares of American Tower by 1.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 545,582 shares of the real estate investment trust's stock worth $117,961,000 after acquiring an additional 10,201 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of American Tower by 77.7% in the 1st quarter. Valeo Financial Advisors LLC now owns 9,296 shares of the real estate investment trust's stock worth $2,023,000 after purchasing an additional 4,066 shares during the period. Navalign LLC raised its holdings in shares of American Tower by 1.7% during the 1st quarter. Navalign LLC now owns 4,767 shares of the real estate investment trust's stock valued at $1,037,000 after buying an additional 78 shares during the period. Alpha Cubed Investments LLC raised its holdings in shares of American Tower by 64.9% during the 1st quarter. Alpha Cubed Investments LLC now owns 199,629 shares of the real estate investment trust's stock valued at $43,439,000 after buying an additional 78,536 shares during the period. Finally, Crossmark Global Holdings Inc. increased its holdings in American Tower by 10.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 63,031 shares of the real estate investment trust's stock worth $13,716,000 after purchasing an additional 6,025 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMT shares. JMP Securities boosted their price objective 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. Morgan Stanley began coverage on American Tower in a research report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price on the stock. Royal Bank Of Canada boosted their target price on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Wells Fargo & Company increased their price objective on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Finally, Bank of America began coverage on American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 price objective on the stock. Two 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. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $240.88.

American Tower Stock Down 0.9%

AMT traded down $1.96 during midday trading on Friday, reaching $219.05. 1,358,450 shares of the company were exchanged, compared to its average volume of 2,502,812. 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 company's fifty day moving average price is $216.48 and its 200 day moving average price is $205.79. The company has a market cap of $102.55 billion, a price-to-earnings ratio of 56.31, a price-to-earnings-growth ratio of 1.65 and a beta of 0.82. 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 released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.34. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates 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 in the prior year, the company posted $2.79 earnings per share. As a group, analysts expect that American Tower Corporation 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 issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio is presently 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.