American Tower Co. (NYSE:AMT) Shares Bought by Raymond James Trust N.A.

Raymond James Trust N.A. lifted its holdings in American Tower Co. (NYSE:AMT) by 10.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 14,107 shares of the real estate investment trust’s stock after buying an additional 1,315 shares during the quarter. Raymond James Trust N.A.’s holdings in American Tower were worth $3,281,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. LRI Investments LLC acquired a new position in American Tower during the 1st quarter valued at approximately $93,000. Epoch Investment Partners Inc. boosted its holdings in shares of American Tower by 389.7% during the first quarter. Epoch Investment Partners Inc. now owns 325,324 shares of the real estate investment trust’s stock valued at $64,281,000 after acquiring an additional 258,894 shares during the period. Lazard Asset Management LLC grew its position in shares of American Tower by 1,185.8% during the first quarter. Lazard Asset Management LLC now owns 64,533 shares of the real estate investment trust’s stock worth $12,750,000 after acquiring an additional 59,514 shares during the last quarter. Steel Grove Capital Advisors LLC acquired a new stake in shares of American Tower in the 1st quarter worth about $297,000. Finally, BOKF NA lifted its position in American Tower by 2.7% in the 1st quarter. BOKF NA now owns 6,248 shares of the real estate investment trust’s stock valued at $1,206,000 after purchasing an additional 164 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMT. TD Cowen upped their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Barclays cut their target price on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. BMO Capital Markets reduced their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Scotiabank cut their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.54.

American Tower Trading Up 0.7 %

Shares of NYSE:AMT opened at $204.32 on Friday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $95.48 billion, a price-to-earnings ratio of 86.21, a PEG ratio of 1.35 and a beta of 0.84. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a 50 day moving average price of $218.75 and a 200 day moving average price of $211.42.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.58 earnings per share. On average, research analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio is presently 273.42%.

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.