Handelsbanken Fonder AB Sells 3,053 Shares of American Tower Co. (NYSE:AMT)

Handelsbanken Fonder AB cut its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,816 shares of the real estate investment trust's stock after selling 3,053 shares during the period. Handelsbanken Fonder AB's holdings in American Tower were worth $45,003,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC bought a new position in American Tower during the fourth quarter worth about $29,000. Roxbury Financial LLC bought a new position in American Tower during the fourth quarter worth about $32,000. Graney & King LLC bought a new position in American Tower during the fourth quarter worth about $32,000. Lowe Wealth Advisors LLC lifted its holdings in American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 109 shares in the last quarter. Finally, Crowley Wealth Management Inc. bought a new stake in shares of American Tower in the fourth quarter valued at about $37,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Performance

Shares of American Tower stock traded down $0.33 on Wednesday, hitting $214.28. The stock had a trading volume of 1,577,863 shares, compared to its average volume of 2,490,653. American Tower Co. has a twelve month low of $172.51 and a twelve month high of $243.56. The business's 50 day moving average is $214.72 and its two-hundred day moving average is $202.93. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $100.31 billion, a price-to-earnings ratio of 90.41, 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 the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the business earned $2.79 earnings per share. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. Analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio (DPR) is currently 174.81%.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research reports. Wells Fargo & Company boosted their price target on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. BMO Capital Markets boosted their price target on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Bank of America initiated coverage on American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price target on the stock. Raymond James boosted their price target on American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Citigroup boosted their price target on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average 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.