Chicago Capital LLC trimmed its position in shares of American Tower Co. (NYSE:AMT – Get Rating) by 4.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,022 shares of the real estate investment trust’s stock after selling 132 shares during the quarter. Chicago Capital LLC’s holdings in American Tower were worth $759,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of AMT. Graypoint LLC raised its position in American Tower by 8.4% in the 1st quarter. Graypoint LLC now owns 1,022 shares of the real estate investment trust’s stock valued at $257,000 after buying an additional 79 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in American Tower by 1.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,311 shares of the real estate investment trust’s stock valued at $7,866,000 after purchasing an additional 403 shares during the period. AE Wealth Management LLC grew its stake in American Tower by 7.3% in the 1st quarter. AE Wealth Management LLC now owns 35,387 shares of the real estate investment trust’s stock valued at $8,890,000 after purchasing an additional 2,397 shares during the period. Legacy Private Trust Co. grew its stake in American Tower by 8.7% in the 1st quarter. Legacy Private Trust Co. now owns 1,152 shares of the real estate investment trust’s stock valued at $289,000 after purchasing an additional 92 shares during the period. Finally, Greenwich Wealth Management LLC bought a new position in American Tower in the 4th quarter valued at $1,077,000. 91.00% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on the company. Barclays cut their price target on American Tower from €295.00 ($313.83) to €284.00 ($302.13) in a research note on Friday, March 18th. JPMorgan Chase & Co. upgraded American Tower from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $245.00 to $285.00 in a research note on Tuesday, June 21st. Morgan Stanley cut their price target on American Tower from $275.00 to $268.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 7th. Jefferies Financial Group cut their price target on American Tower from $308.00 to $293.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Bank of America began coverage on American Tower in a research note on Sunday, June 5th. They issued a “buy” rating and a $315.00 target price for the company. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $292.07.
Shares of NYSE AMT opened at $258.40 on Friday. The stock has a market cap of $120.08 billion, a price-to-earnings ratio of 44.71, a P/E/G ratio of 2.56 and a beta of 0.48. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 4.12. American Tower Co. has a 1-year low of $220.00 and a 1-year high of $303.72. The stock’s 50-day moving average is $247.85 and its 200 day moving average is $250.65.
American Tower (NYSE:AMT – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported $1.56 EPS for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.85). The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.61 billion. American Tower had a return on equity of 30.44% and a net margin of 26.72%. American Tower’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $2.46 earnings per share. On average, analysts forecast that American Tower Co. will post 9.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 8th. Shareholders of record on Friday, June 17th will be paid a $1.43 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.40. This represents a $5.72 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Thursday, June 16th. American Tower’s payout ratio is 98.96%.
American Tower Profile (Get Rating)
American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.
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