Yousif Capital Management LLC Reduces Position in American Tower Co. (NYSE:AMT)

Yousif Capital Management LLC cut its holdings in American Tower Co. (NYSE:AMT - Free Report) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,382 shares of the real estate investment trust's stock after selling 1,328 shares during the quarter. Yousif Capital Management LLC's holdings in American Tower were worth $16,186,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AMT. Farther Finance Advisors LLC raised its holdings in shares of American Tower by 43.2% during the first quarter. Farther Finance Advisors LLC now owns 3,233 shares of the real estate investment trust's stock valued at $710,000 after purchasing an additional 975 shares during the last quarter. City Holding Co. purchased a new position in American Tower in the first quarter worth about $39,000. CHICAGO TRUST Co NA grew its stake in shares of American Tower by 12.9% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,133 shares of the real estate investment trust's stock valued at $682,000 after purchasing an additional 359 shares during the period. Portside Wealth Group LLC increased its position in shares of American Tower by 1.6% during the 1st quarter. Portside Wealth Group LLC now owns 5,418 shares of the real estate investment trust's stock valued at $1,179,000 after purchasing an additional 87 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC lifted its stake in shares of American Tower by 17.5% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 1,404 shares of the real estate investment trust's stock worth $306,000 after purchasing an additional 209 shares during the period. Institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on AMT shares. JMP Securities increased 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. Citigroup raised their target price on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Bank of America initiated coverage on American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 target price on the stock. Barclays upped their price target on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Finally, Wells Fargo & Company lifted their price objective on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Two research 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 company's stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of "Buy" and a consensus target price of $240.25.

American Tower Price Performance

American Tower stock traded up $1.70 during mid-day trading on Tuesday, reaching $214.53. 1,624,996 shares of the company's stock traded hands, compared to its average volume of 2,496,980. American Tower Co. has a 12-month low of $172.51 and a 12-month high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a 50 day moving average of $215.00 and a two-hundred day moving average of $202.85. The company has a market cap of $100.43 billion, a price-to-earnings ratio of 90.52, a PEG ratio of 1.29 and a beta of 0.81.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.34. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. During the same period in the prior year, the company earned $2.79 EPS. The business's revenue was down 9.6% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's payout ratio is 174.81%.

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.