Trust Co. of Vermont Lowers Position in American Tower Corporation (NYSE:AMT)

Trust Co. of Vermont lowered its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,297 shares of the real estate investment trust's stock after selling 3,901 shares during the period. Trust Co. of Vermont's holdings in American Tower were worth $10,292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Partners Group Holding AG raised its holdings in shares of 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 in the last quarter. Aviva PLC raised its holdings in shares of 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 acquiring an additional 46,009 shares in the last quarter. LGT Group Foundation raised its holdings in shares of 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 acquiring an additional 6,165 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of American Tower during the 4th quarter valued at about $193,246,000. Finally, Cbre Investment Management Listed Real Assets LLC increased its position in shares of American Tower by 2.5% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 769,720 shares of the real estate investment trust's stock valued at $141,174,000 after purchasing an additional 18,555 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Price Performance

Shares of American Tower stock opened at $217.64 on Friday. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81. The business's 50 day simple moving average is $215.79 and its two-hundred day simple moving average is $203.72. The stock has a market capitalization of $101.89 billion, a P/E ratio of 55.95, a price-to-earnings-growth ratio of 1.63 and a beta of 0.81. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The business had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. During the same period in the previous year, the firm earned $2.79 EPS. The business's quarterly revenue was down 9.6% on a year-over-year basis. Analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.70 per share. The ex-dividend date is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.12%. American Tower's dividend payout ratio (DPR) is presently 174.81%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMT. Morgan Stanley began coverage on American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price objective on the stock. Bank of America began coverage on American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 price objective on the stock. UBS Group raised their price objective on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Scotiabank raised their price objective on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Finally, Barclays raised their price objective on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, American Tower has an average rating of "Buy" and an average target price of $240.25.

About American Tower

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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