MassMutual Private Wealth & Trust FSB Has $4.35 Million Stock Position in American Tower Co. (NYSE:AMT)

MassMutual Private Wealth & Trust FSB lifted its holdings in American Tower Co. (NYSE:AMT - Free Report) by 12.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,998 shares of the real estate investment trust's stock after buying an additional 2,138 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in American Tower were worth $4,352,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Minot DeBlois Advisors LLC bought a new stake in American Tower during the 4th quarter worth about $29,000. Roxbury Financial LLC bought a new stake in shares of American Tower in the 4th quarter valued at about $32,000. Graney & King LLC bought a new stake in shares of American Tower in the 4th quarter valued at about $32,000. Crowley Wealth Management Inc. bought a new stake in shares of American Tower in the 4th quarter valued at about $37,000. Finally, 10Elms LLP bought a new stake in shares of American Tower in the 4th quarter valued at about $42,000. 92.69% of the stock is owned by institutional investors.

American Tower Trading Up 0.5%

Shares of AMT stock traded up $1.06 during mid-day trading on Friday, reaching $214.77. 5,861,516 shares of the stock traded hands, compared to its average volume of 2,505,441. The stock's fifty day simple moving average is $215.21 and its two-hundred day simple moving average is $202.20. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56. The company has a market cap of $100.54 billion, a price-to-earnings ratio of 90.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly 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 return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the firm posted $2.79 earnings per share. The business's revenue for the quarter was down 9.6% on a year-over-year basis. On average, research analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's payout ratio is 174.81%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AMT shares. Citigroup increased their target price on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Bank of America started coverage on American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 target price for the company. Royal Bank of Canada increased their target price on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. BMO Capital Markets increased their target price on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Finally, Scotiabank increased their target price on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to 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.