American Tower Corporation (NYSE:AMT) Stock Holdings Increased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its stake in American Tower Corporation (NYSE:AMT - Free Report) by 12.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,146 shares of the real estate investment trust's stock after purchasing an additional 16,769 shares during the period. Teacher Retirement System of Texas' holdings in American Tower were worth $32,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. Brighton Jones LLC lifted its position in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after acquiring an additional 2,104 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of American Tower by 16.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 31,559 shares of the real estate investment trust's stock worth $5,788,000 after acquiring an additional 4,345 shares during the period. Victory Capital Management Inc. raised its holdings in American Tower by 3.9% during the fourth quarter. Victory Capital Management Inc. now owns 173,053 shares of the real estate investment trust's stock worth $31,740,000 after purchasing an additional 6,453 shares in the last quarter. Assetmark Inc. lifted its position in American Tower by 524.8% in the fourth quarter. Assetmark Inc. now owns 14,770 shares of the real estate investment trust's stock valued at $2,709,000 after purchasing an additional 12,406 shares during the period. Finally, SPC Financial Inc. increased its position in American Tower by 6.7% during the 4th quarter. SPC Financial Inc. now owns 3,276 shares of the real estate investment trust's stock worth $601,000 after purchasing an additional 205 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Performance

Shares of NYSE:AMT traded down $2.00 during trading hours on Monday, hitting $219.75. The stock had a trading volume of 1,894,042 shares, compared to its average volume of 2,720,401. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56. The firm has a market capitalization of $102.87 billion, a price-to-earnings ratio of 56.49, a PEG ratio of 1.65 and a beta of 0.82. The stock's fifty day simple moving average is $216.46 and its 200 day simple moving average is $205.07. 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 posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping 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 previous year, the business posted $2.79 earnings per share. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. Sell-side analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a $1.70 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.09%. American Tower's dividend payout ratio (DPR) is presently 174.81%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. UBS Group raised their price objective on shares of American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Raymond James Financial raised their target price on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Wells Fargo & Company boosted their target price on shares of American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Royal Bank Of Canada increased their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Citigroup upped their target price on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $240.25.

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.