First Western Trust Bank decreased its position in shares of American Tower Co. (NYSE:AMT – Get Rating) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,824 shares of the real estate investment trust’s stock after selling 1,471 shares during the period. First Western Trust Bank’s holdings in American Tower were worth $6,530,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. BCK Partners Inc. bought a new position in American Tower during the first quarter valued at about $2,892,000. Fairfield Bush & CO. increased its stake in American Tower by 138.9% during the first quarter. Fairfield Bush & CO. now owns 2,829 shares of the real estate investment trust’s stock valued at $711,000 after acquiring an additional 1,645 shares during the period. Cetera Investment Advisers increased its stake in American Tower by 5.7% during the first quarter. Cetera Investment Advisers now owns 14,413 shares of the real estate investment trust’s stock valued at $3,621,000 after acquiring an additional 771 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in American Tower by 33.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,015 shares of the real estate investment trust’s stock valued at $757,000 after purchasing an additional 756 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in American Tower by 1.4% during the first quarter. Loomis Sayles & Co. L P now owns 152,723 shares of the real estate investment trust’s stock valued at $38,367,000 after purchasing an additional 2,071 shares in the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.
American Tower Trading Down 0.3 %
AMT stock traded down $0.61 during trading on Friday, hitting $181.95. The company had a trading volume of 1,533,304 shares, compared to its average volume of 1,974,543. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 2.83. The firm has a 50-day moving average price of $199.29 and a 200-day moving average price of $208.65. American Tower Co. has a 12 month low of $178.17 and a 12 month high of $282.47. The stock has a market cap of $84.80 billion, a price-to-earnings ratio of 60.85, a PEG ratio of 1.20 and a beta of 0.57.
American Tower Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 10th. Investors of record on Friday, June 16th will be given a $1.57 dividend. The ex-dividend date is Thursday, June 15th. This represents a $6.28 dividend on an annualized basis and a dividend yield of 3.45%. This is a boost from American Tower’s previous quarterly dividend of $1.56. American Tower’s dividend payout ratio is currently 208.00%.
Wall Street Analyst Weigh In
AMT has been the topic of a number of recent research reports. Morgan Stanley decreased their price objective on American Tower from $224.00 to $215.00 in a report on Tuesday, April 18th. StockNews.com initiated coverage on American Tower in a report on Thursday, May 18th. They set a “hold” rating on the stock. Moffett Nathanson raised American Tower from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $244.00 to $234.00 in a report on Thursday, March 30th. Credit Suisse Group decreased their price objective on American Tower from $251.00 to $244.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on American Tower from $254.00 to $245.00 in a report on Tuesday, March 7th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $258.12.
American Tower Company Profile
American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It offers leasing of space on communications sites to wireless service providers, radio and television broadcast companies. It operates through the following segments: U.S.
- Get a free copy of the StockNews.com research report on American Tower (AMT)
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