Mather Group LLC. Has $494,000 Holdings in American Tower Corporation (NYSE:AMT)

Mather Group LLC. trimmed its position in shares of American Tower Corporation (NYSE:AMT) by 58.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,268 shares of the real estate investment trust’s stock after selling 3,157 shares during the period. Mather Group LLC.’s holdings in American Tower were worth $494,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,104 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of American Tower by 16.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 31,559 shares of the real estate investment trust’s stock valued at $5,788,000 after purchasing an additional 4,345 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of American Tower by 3.9% during the 4th quarter. Victory Capital Management Inc. now owns 173,053 shares of the real estate investment trust’s stock worth $31,740,000 after buying an additional 6,453 shares in the last quarter. Assetmark Inc. lifted its position in shares of American Tower by 524.8% during the 4th quarter. Assetmark Inc. now owns 14,770 shares of the real estate investment trust’s stock worth $2,709,000 after buying an additional 12,406 shares during the last quarter. Finally, SPC Financial Inc. boosted its stake in American Tower by 6.7% in the fourth quarter. SPC Financial Inc. now owns 3,276 shares of the real estate investment trust’s stock valued at $601,000 after buying an additional 205 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

AMT has been the topic of a number of research analyst reports. Bank of America began coverage on shares of American Tower in a research note on Monday, May 19th. They issued a “buy” rating and a $255.00 price target on the stock. Raymond James Financial raised their target price on shares of American Tower from $231.00 to $251.00 and gave the company a “strong-buy” 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 stock a “sector outperform” rating in a report on Wednesday, April 30th. Wells Fargo & Company increased their price target on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley started coverage on American Tower in a research report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price objective on the stock. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, American Tower has an average rating of “Buy” and a consensus price target of $240.25.

American Tower Stock Performance

Shares of AMT stock opened at $221.75 on Friday. The stock has a market capitalization of $103.81 billion, a PE ratio of 57.00, a PEG ratio of 1.65 and a beta of 0.82. The business’s 50 day simple moving average is $216.24 and its 200 day simple moving average is $204.55. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly 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 17.34% and a return on equity of 30.20%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the company earned $2.79 EPS. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, research analysts forecast 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 will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, June 13th. American Tower’s dividend payout ratio (DPR) is presently 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.