Texas Yale Capital Corp. Raises Stock Holdings in American Tower Corporation (NYSE:AMT)

Key Points

• Texas Yale Capital Corp. increased its stake in American Tower by 14.1% during the first quarter, holding a total of 14,322 shares valued at over $3 million.
• Recent analyst reports show a consensus "Buy" rating for American Tower, with price targets ranging from $240.00 to $260.00.
• American Tower recently announced a quarterly dividend of $1.70 per share, reflecting a 2.96% yield with a high dividend payout ratio of 174.81%.

Texas Yale Capital Corp. boosted its position in American Tower Corporation (NYSE:AMT - Free Report) by 14.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,322 shares of the real estate investment trust's stock after purchasing an additional 1,773 shares during the quarter. Texas Yale Capital Corp.'s holdings in American Tower were worth $3,116,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Aviva PLC raised its holdings in American Tower by 13.4% in the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock worth $71,252,000 after purchasing an additional 46,009 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock valued at $80,000 after acquiring an additional 69 shares in the last quarter. Shum Financial Group Inc. increased its holdings in shares of American Tower by 3.5% during the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock valued at $913,000 after acquiring an additional 141 shares in the last quarter. Mariner LLC increased its holdings in shares of American Tower by 30.9% during the fourth quarter. Mariner LLC now owns 363,088 shares of the real estate investment trust's stock valued at $66,585,000 after acquiring an additional 85,693 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc increased its holdings in shares of American Tower by 13.3% during the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust's stock valued at $50,487,000 after acquiring an additional 27,194 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Raymond James Financial upped their price objective on shares of American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Wells Fargo & Company increased their price target on shares of American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Scotiabank increased their price target on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 30th. Royal Bank Of Canada increased their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, Bank of America began coverage on shares of American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued 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 $242.31.

American Tower Price Performance

American Tower stock traded down $5.76 during trading on Monday, reaching $224.11. The company had a trading volume of 2,175,556 shares, compared to its average volume of 1,673,344. The firm's 50-day simple moving average is $218.70 and its 200 day simple moving average is $209.49. 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 $104.91 billion, a PE ratio of 57.61, a price-to-earnings-growth ratio of 1.27 and a beta of 0.82. 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 issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The business had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same period in the prior year, the business earned $2.79 earnings per share. The company's quarterly revenue was down 9.6% compared to the same quarter last year. As a group, equities research 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 disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Friday, June 13th. American Tower's 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.