MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 64.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 693 shares of the real estate investment trust's stock after selling 1,261 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in American Tower were worth $151,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of AMT. Minot DeBlois Advisors LLC purchased a new stake in shares of American Tower during the 4th quarter worth about $29,000. Roxbury Financial LLC purchased a new stake in shares of American Tower during the 4th quarter worth about $32,000. Graney & King LLC purchased a new stake in shares of American Tower during the 4th quarter worth about $32,000. Lowe Wealth Advisors LLC lifted its stake in American Tower by 218.0% in the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 109 shares in the last quarter. Finally, Crowley Wealth Management Inc. purchased a new position in American Tower in the 4th quarter valued at about $37,000. 92.69% of the stock is owned by hedge funds and other institutional investors.
American Tower Stock Down 1.4%
Shares of NYSE AMT opened at $214.76 on Monday. The company has a 50 day simple moving average of $214.91 and a 200-day simple moving average of $203.04. The company has a market capitalization of $100.54 billion, a P/E ratio of 90.62, a P/E/G ratio of 1.29 and a beta of 0.81. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1 year low of $172.51 and a 1 year high of $243.56.
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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business's revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.79 EPS. On average, equities research analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.
American Tower Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors 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 dividend on an annualized basis and a dividend yield of 3.17%. American Tower's payout ratio is currently 174.81%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on AMT shares. Raymond James raised their price target on shares of American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Citigroup raised their price target on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Scotiabank raised their price target on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Finally, BMO Capital Markets raised their price target on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $240.25.
Read Our Latest Research Report on AMT
About American Tower
(
Free Report)
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.
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