American Tower Co. (NYSE:AMT) Holdings Reduced by Perkins Coie Trust Co

Perkins Coie Trust Co decreased its position in American Tower Co. (NYSE:AMT) by 4.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,449 shares of the real estate investment trust’s stock after selling 765 shares during the period. Perkins Coie Trust Co’s holdings in American Tower were worth $3,797,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMT. Partners Group Holding AG lifted its stake 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 worth $69,438,000 after acquiring an additional 28,988 shares during the period. TigerOak Management L.L.C. acquired a new stake in American Tower during the fourth quarter valued at approximately $1,102,000. Aviva PLC lifted its stake in American Tower by 13.4% during the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust’s stock valued at $71,252,000 after purchasing an additional 46,009 shares during the last quarter. LGT Group Foundation lifted its stake in American Tower by 16.9% during the fourth quarter. LGT Group Foundation now owns 42,608 shares of the real estate investment trust’s stock valued at $7,815,000 after purchasing an additional 6,165 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in American Tower during the fourth quarter valued at approximately $193,246,000. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. UBS Group increased 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. BMO Capital Markets upped their price target on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. JMP Securities upped their price target on shares of American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 30th. Scotiabank upped their price target on shares of American Tower from $234.00 to $248.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley started coverage on shares of American Tower in a research report on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 price target for the company. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $240.25.

American Tower Stock Down 1.7%

AMT stock opened at $212.57 on Friday. 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 company has a market cap of $99.51 billion, a price-to-earnings ratio of 89.69, a PEG ratio of 1.29 and a beta of 0.82. The company has a 50 day moving average of $215.09 and a two-hundred day moving average of $202.78.

American Tower (NYSE:AMT) last released 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. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the firm earned $2.79 EPS. The company’s revenue was down 9.6% compared to the same quarter last year. On average, equities analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.20%. American Tower’s dividend payout ratio (DPR) 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.