YorkBridge Wealth Partners LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT – Get Rating) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,626 shares of the real estate investment trust’s stock after buying an additional 53 shares during the quarter. YorkBridge Wealth Partners LLC’s holdings in American Tower were worth $1,949,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in American Tower by 1.4% in the first quarter. Vanguard Group Inc. now owns 59,982,344 shares of the real estate investment trust’s stock worth $15,068,764,000 after purchasing an additional 824,408 shares during the last quarter. BlackRock Inc. lifted its stake in shares of American Tower by 6.7% during the fourth quarter. BlackRock Inc. now owns 36,636,712 shares of the real estate investment trust’s stock worth $10,716,237,000 after buying an additional 2,302,202 shares during the period. State Street Corp lifted its stake in shares of American Tower by 7.9% during the first quarter. State Street Corp now owns 21,253,223 shares of the real estate investment trust’s stock worth $5,339,235,000 after buying an additional 1,550,683 shares during the period. Cohen & Steers Inc. lifted its stake in shares of American Tower by 27.5% during the first quarter. Cohen & Steers Inc. now owns 19,680,735 shares of the real estate investment trust’s stock worth $4,944,107,000 after buying an additional 4,239,151 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in American Tower by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 6,213,168 shares of the real estate investment trust’s stock valued at $1,560,871,000 after purchasing an additional 112,662 shares during the period. 91.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
AMT has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on shares of American Tower from $282.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. Bank of America assumed coverage on shares of American Tower in a research note on Sunday, June 5th. They set a “buy” rating and a $315.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Tower from $260.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, July 14th. Credit Suisse Group assumed coverage on shares of American Tower in a research note on Wednesday, June 22nd. They set an “outperform” rating and a $313.00 target price for the company. Finally, Citigroup cut their target price on shares of American Tower from $300.00 to $290.00 and set a “buy” rating for the company in a research note on Monday, July 18th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $291.29.
Insiders Place Their Bets
American Tower Stock Performance
NYSE:AMT opened at $232.78 on Friday. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $108.38 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 2.13 and a beta of 0.48. The company’s 50-day moving average is $261.27 and its two-hundred day moving average is $253.48. American Tower Co. has a 1-year low of $220.00 and a 1-year high of $294.40.
American Tower (NYSE:AMT – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $1.95 EPS for the quarter, topping the consensus estimate of $0.96 by $0.99. American Tower had a net margin of 27.23% and a return on equity of 28.93%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the business posted $2.42 EPS. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. Analysts forecast that American Tower Co. will post 9.49 EPS for the current year.
American Tower Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Tuesday, October 11th will be issued a $1.47 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.43. This represents a $5.88 annualized dividend and a dividend yield of 2.53%. American Tower’s dividend payout ratio is currently 94.08%.
About American Tower
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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