Rhumbline Advisers cut its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,076,333 shares of the real estate investment trust's stock after selling 27,356 shares during the period. Rhumbline Advisers owned about 0.23% of American Tower worth $234,210,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Lowe Wealth Advisors LLC grew its position in American Tower by 218.0% in 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. Minot DeBlois Advisors LLC bought a new stake in American Tower in the fourth quarter worth approximately $29,000. Graney & King LLC bought a new stake in American Tower in the fourth quarter worth approximately $32,000. Roxbury Financial LLC bought a new stake in American Tower in the fourth quarter worth approximately $32,000. Finally, Global Wealth Strategies & Associates grew its position in American Tower by 193.5% in the first quarter. Global Wealth Strategies & Associates now owns 182 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 120 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.
American Tower Price Performance
Shares of AMT traded up $1.03 during trading hours on Thursday, hitting $215.39. The stock had a trading volume of 811,041 shares, compared to its average volume of 2,489,649. The company's fifty day moving average is $215.26 and its two-hundred day moving average is $202.58. 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 52 week low of $172.51 and a 52 week high of $243.56. The stock has a market capitalization of $100.83 billion, a price-to-earnings ratio of 90.88, a P/E/G ratio of 1.29 and a beta of 0.82.
American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.34. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the firm earned $2.79 EPS. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. On average, analysts anticipate that American Tower Co. will post 10.14 EPS for the current year.
American Tower Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's payout ratio is 174.81%.
Analyst Upgrades and Downgrades
AMT has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Raymond James upped their target price 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. Hsbc Global Res upgraded shares of American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Citigroup upped their target price 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. Finally, Royal Bank of Canada upped their target price on shares of American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Two 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 MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $240.25.
View Our Latest Analysis 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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