Quintet Private Bank Europe S.A. Purchases 5,440 Shares of American Tower Co. (NYSE:AMT)

Quintet Private Bank Europe S.A. raised its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,978 shares of the real estate investment trust's stock after buying an additional 5,440 shares during the period. American Tower comprises 1.8% of Quintet Private Bank Europe S.A.'s portfolio, making the stock its 17th biggest position. Quintet Private Bank Europe S.A.'s holdings in American Tower were worth $31,330,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AMT. Norges Bank acquired a new stake in shares of American Tower during the fourth quarter worth approximately $1,164,851,000. Cohen & Steers Inc. increased its holdings in shares of American Tower by 21.8% during the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after buying an additional 3,437,602 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after buying an additional 3,421,413 shares in the last quarter. Capital World Investors increased its holdings in shares of American Tower by 160.6% during the fourth quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust's stock worth $902,396,000 after buying an additional 3,032,005 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of American Tower by 23,627.3% during the first quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust's stock worth $370,346,000 after buying an additional 1,694,784 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

AMT has been the subject of several recent analyst reports. JMP Securities raised their price objective on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 30th. 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 report on Wednesday, April 30th. Royal Bank of Canada raised their price target on shares of American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. UBS Group raised their price target on shares of American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, Barclays raised their price target on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $240.25.

American Tower Trading Down 1.4%

AMT stock traded down $2.94 during midday trading on Friday, reaching $214.76. The company's stock had a trading volume of 2,455,578 shares, compared to its average volume of 2,490,204. American Tower Co. has a 52 week low of $172.51 and a 52 week high of $243.56. The stock has a market cap of $100.54 billion, a PE ratio of 90.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.81. 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 business's 50-day simple moving average is $214.91 and its 200-day simple moving average is $203.08.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. During the same period last year, the firm earned $2.79 earnings per share. The business's revenue for the quarter was down 9.6% on a year-over-year basis. As a group, sell-side analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.17%. American Tower's 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.