American Tower Corporation (NYSE:AMT) Shares Sold by Whittier Trust Co.

Whittier Trust Co. lessened its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 11.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,654 shares of the real estate investment trust's stock after selling 1,940 shares during the quarter. Whittier Trust Co.'s holdings in American Tower were worth $3,406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Partners Group Holding AG increased 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 during the period. Aviva PLC grew 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 during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of American Tower by 23.0% during the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 69 shares during the last quarter. Shum Financial Group Inc. boosted its position in shares of American Tower by 3.5% in the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock worth $913,000 after purchasing an additional 141 shares in the last quarter. Finally, Mariner LLC increased its position in American Tower by 30.9% during the 4th quarter. Mariner LLC now owns 363,088 shares of the real estate investment trust's stock valued at $66,585,000 after buying an additional 85,693 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Price Performance

Shares of NYSE AMT traded up $0.27 during trading on Thursday, hitting $223.63. The company had a trading volume of 780,072 shares, compared to its average volume of 2,499,067. The firm has a market capitalization of $104.69 billion, a price-to-earnings ratio of 57.46, a price-to-earnings-growth ratio of 1.62 and a beta of 0.82. The stock has a fifty day simple moving average of $216.32 and a two-hundred day simple moving average of $206.81. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.43. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data 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 return on equity of 30.20% and a net margin of 17.34%. The company 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 posted $2.79 EPS. American Tower's revenue was down 9.6% compared to the same quarter last year. On average, research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.04%. American Tower's dividend payout ratio is presently 174.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AMT shares. Morgan Stanley started coverage on American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target on the stock. Royal Bank Of Canada raised 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. UBS Group lifted their price target on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Bank of America assumed coverage on shares of American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 target price for the company. Finally, Raymond James Financial increased their price target on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $240.88.

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.