1,389 Shares in American Tower Co. (NYSE:AMT) Bought by Texas Bank & Trust Co

Texas Bank & Trust Co bought a new position in American Tower Co. (NYSE:AMT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,389 shares of the real estate investment trust’s stock, valued at approximately $255,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Glenview Trust co lifted its position in American Tower by 0.8% in the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock worth $1,294,000 after purchasing an additional 54 shares during the period. CreativeOne Wealth LLC lifted its position in American Tower by 2.1% in the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust’s stock worth $477,000 after purchasing an additional 54 shares during the period. Precedent Wealth Partners LLC raised its stake in American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 58 shares in the last quarter. Safe Harbor Fiduciary LLC raised its stake in American Tower by 1.1% during the fourth quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust’s stock worth $978,000 after acquiring an additional 58 shares in the last quarter. Finally, Resonant Capital Advisors LLC raised its stake in American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 61 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

American Tower stock opened at $213.24 on Monday. The business’s 50-day simple moving average is $214.94 and its 200 day simple moving average is $201.47. The stock has a market cap of $99.83 billion, a price-to-earnings ratio of 89.97, a P/E/G ratio of 1.29 and a beta of 0.86. 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.

American Tower (NYSE:AMT) last posted its quarterly 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. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.79 earnings per share. As a group, research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s dividend payout ratio is 174.81%.

Analysts Set New Price Targets

Several research analysts have issued reports on AMT shares. JMP Securities increased their price objective on American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 30th. BMO Capital Markets increased their price objective on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, Morgan Stanley started coverage on American Tower in a research note on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price objective for the company. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $239.27.

About American Tower

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.