SG Americas Securities LLC reduced its stake in American Tower Corporation (NYSE:AMT - Free Report) by 87.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,611 shares of the real estate investment trust's stock after selling 30,860 shares during the period. SG Americas Securities LLC's holdings in American Tower were worth $1,003,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Partners Group Holding AG increased its holdings in American Tower by 8.3% in the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock valued at $69,438,000 after acquiring an additional 28,988 shares during the last quarter. Aviva PLC boosted its position in American Tower by 13.4% in the 4th quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock valued at $71,252,000 after buying an additional 46,009 shares during the period. LGT Group Foundation boosted its position in American Tower by 16.9% in the 4th quarter. LGT Group Foundation now owns 42,608 shares of the real estate investment trust's stock valued at $7,815,000 after buying an additional 6,165 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of American Tower in the 4th quarter worth approximately $193,246,000. Finally, Cbre Investment Management Listed Real Assets LLC lifted its position in shares of American Tower by 2.5% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 769,720 shares of the real estate investment trust's stock worth $141,174,000 after purchasing an additional 18,555 shares during the period. 92.69% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Barclays upped their target price on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Royal Bank Of Canada increased their price target on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. JMP Securities raised their target price on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Finally, Morgan Stanley initiated coverage on American Tower in a research report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, American Tower has an average rating of "Buy" and a consensus target price of $240.25.
Read Our Latest Stock Report on AMT
American Tower Price Performance
Shares of NYSE:AMT traded up $0.36 during trading on Thursday, reaching $215.50. The company had a trading volume of 1,665,651 shares, compared to its average volume of 2,486,491. The firm's fifty day moving average is $215.43 and its 200 day moving average is $203.25. The firm has a market capitalization of $100.88 billion, a PE ratio of 55.40, a price-to-earnings-growth ratio of 1.60 and a beta of 0.81. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81.
American Tower (NYSE:AMT - Get Free Report) last released 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 17.34% and a return on equity of 30.20%. The firm 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 business earned $2.79 EPS. The company's revenue for the quarter was down 9.6% compared to the same quarter last year. On average, equities analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.
American Tower Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio is 174.81%.
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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