Greenleaf Trust Increases Position in American Tower Corporation (NYSE:AMT)

Greenleaf Trust raised its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 7.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 175,824 shares of the real estate investment trust's stock after buying an additional 12,933 shares during the quarter. American Tower comprises about 0.3% of Greenleaf Trust's investment portfolio, making the stock its 18th biggest position. Greenleaf Trust's holdings in American Tower were worth $38,259,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of AMT. Brighton Jones LLC boosted its holdings in shares of 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 purchasing an additional 2,104 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of American Tower during the fourth quarter worth $235,000. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of American Tower by 38.8% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 965 shares of the real estate investment trust's stock worth $195,000 after purchasing an additional 270 shares during the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of American Tower by 18.7% during the fourth quarter. Personal CFO Solutions LLC now owns 1,749 shares of the real estate investment trust's stock worth $321,000 after purchasing an additional 276 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC boosted its holdings in shares of American Tower by 8.2% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,718 shares of the real estate investment trust's stock worth $315,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AMT shares. Raymond James Financial raised their price objective on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Barclays raised their price objective on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Wells Fargo & Company raised their price objective on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. UBS Group lifted their target price on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Bank of America began coverage on American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 target price on the stock. 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $240.88.

American Tower Stock Down 0.9%

NYSE:AMT traded down $1.96 during mid-day trading on Friday, hitting $219.05. The company had a trading volume of 1,358,450 shares, compared to its average volume of 2,504,864. The business has a fifty day simple moving average of $216.39 and a 200-day simple moving average of $206.17. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $243.56. The firm has a market capitalization of $102.55 billion, a price-to-earnings ratio of 56.31, a PEG ratio of 1.63 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last released 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 return on equity of 30.20% and a net margin of 17.34%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the company posted $2.79 earnings per share. The firm's revenue was down 9.6% compared to the same quarter last year. Equities analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Friday, June 13th. American Tower's payout ratio is 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.