Sarasin & Partners LLP Has $175.13 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Sarasin & Partners LLP lowered its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 14.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 804,809 shares of the real estate investment trust's stock after selling 131,202 shares during the period. American Tower makes up 1.9% of Sarasin & Partners LLP's investment portfolio, making the stock its 24th biggest holding. Sarasin & Partners LLP owned about 0.17% of American Tower worth $175,126,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in AMT. Glenview Trust co increased its stake in American Tower by 0.8% in the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock valued at $1,294,000 after acquiring an additional 54 shares during the period. CreativeOne Wealth LLC increased its stake in American Tower by 2.1% in the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock valued at $477,000 after acquiring an additional 54 shares during the period. Veracity Capital LLC increased its stake in American Tower by 4.7% in the first quarter. Veracity Capital LLC now owns 1,237 shares of the real estate investment trust's stock valued at $269,000 after acquiring an additional 56 shares during the period. Safe Harbor Fiduciary LLC increased its stake in American Tower by 1.1% in the fourth quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust's stock valued at $978,000 after acquiring an additional 58 shares during the period. Finally, Sunburst Financial Group LLC increased its stake in American Tower by 4.9% in the fourth quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust's stock valued at $248,000 after acquiring an additional 63 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AMT shares. Barclays upped their target price on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Raymond James upped their price objective on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Citigroup upped their price objective on shares of 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 assumed coverage on shares of American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 price objective on the stock. Finally, Morgan Stanley assumed coverage on shares of American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price objective on the stock. Two investment 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 company. According to data from MarketBeat.com, American Tower has a consensus rating of "Buy" and an average target price of $240.25.

American Tower Price Performance

Shares of AMT traded down $0.33 during mid-day trading on Wednesday, hitting $214.28. 1,577,863 shares of the company traded hands, compared to its average volume of 2,490,653. American Tower Co. has a one year low of $172.51 and a one year high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The business has a 50-day moving average of $214.72 and a 200 day moving average of $202.93. The stock has a market capitalization of $100.31 billion, a price-to-earnings ratio of 90.41, a PEG ratio of 1.29 and a beta of 0.81.

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 for the quarter, beating 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 period in the prior year, the business posted $2.79 earnings per share. American Tower's revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

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

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.