American Tower Co. (NYSE:AMT) Stock Holdings Trimmed by Sarasin & Partners LLP

Sarasin & Partners LLP lessened its holdings in American Tower Co. (NYSE:AMT - Free Report) by 4.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 898,319 shares of the real estate investment trust's stock after selling 37,692 shares during the quarter. American Tower makes up about 2.1% of Sarasin & Partners LLP's holdings, making the stock its 22nd largest position. Sarasin & Partners LLP owned 0.19% of American Tower worth $208,913,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Lowe Wealth Advisors LLC grew its holdings in shares of American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 109 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in American Tower in the fourth quarter valued at about $29,000. Graney & King LLC acquired a new stake in American Tower in the fourth quarter valued at about $32,000. Roxbury Financial LLC acquired a new stake in shares of American Tower during the 4th quarter valued at approximately $32,000. Finally, Global Wealth Strategies & Associates lifted its position in shares of American Tower by 193.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 182 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Up 0.5%

Shares of NYSE:AMT traded up $1.13 during midday trading on Thursday, hitting $215.49. 1,013,066 shares of the company's stock traded hands, compared to its average volume of 2,490,516. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $100.88 billion, a PE ratio of 90.92, a P/E/G ratio of 1.29 and a beta of 0.82. The firm's fifty day moving average price is $215.26 and its two-hundred day moving average price is $202.58. American Tower Co. has a twelve month low of $172.51 and a twelve month high of $243.56.

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, beating the consensus estimate of $2.41 by $0.34. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business's quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.79 EPS. On average, equities 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 disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders 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 dividend on an annualized basis and a yield of 3.16%. American Tower's dividend payout ratio is currently 174.81%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMT. Bank of America began coverage on shares of American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 price target for the company. Wells Fargo & Company lifted their price objective on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. BMO Capital Markets lifted their price objective on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Scotiabank lifted their price objective on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. Finally, Royal Bank of Canada lifted their price objective on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Two 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 stock currently has an average rating of "Buy" and an average price target 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.