Vest Financial LLC Has $6.90 Million Stock Position in American Tower Co. (NYSE:AMT)

Vest Financial LLC lifted its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 73.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,719 shares of the real estate investment trust's stock after purchasing an additional 13,437 shares during the quarter. Vest Financial LLC's holdings in American Tower were worth $6,902,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Glenview Trust co grew its stake in American Tower by 0.8% in the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock valued at $1,294,000 after buying an additional 54 shares during the last quarter. CreativeOne Wealth LLC grew its stake in American Tower by 2.1% in the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock valued at $477,000 after buying an additional 54 shares during the last quarter. Veracity Capital LLC grew its stake in American Tower by 4.7% in the 1st quarter. Veracity Capital LLC now owns 1,237 shares of the real estate investment trust's stock valued at $269,000 after buying an additional 56 shares during the last quarter. Safe Harbor Fiduciary LLC grew its stake in American Tower by 1.1% in the 4th quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust's stock valued at $978,000 after buying an additional 58 shares during the last quarter. Finally, Sunburst Financial Group LLC grew its stake in American Tower by 4.9% in the 4th quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust's stock valued at $248,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Performance

Shares of AMT opened at $212.57 on Friday. The firm has a 50-day moving average of $215.09 and a 200-day moving average of $202.78. American Tower Co. has a one year low of $172.51 and a one year high of $243.56. The company has a market cap of $99.51 billion, a PE ratio of 89.69, a price-to-earnings-growth ratio of 1.29 and a beta of 0.82. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower's quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.79 EPS. As a group, equities analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business 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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's dividend payout ratio is presently 174.81%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group raised their target price 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 raised their target price on shares of American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Scotiabank raised their price target on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. BMO Capital Markets raised their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, JMP Securities raised their price target on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 30th. Two equities research 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. Based on data from MarketBeat.com, the company presently 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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