American Tower Co. (NYSE:AMT) Shares Bought by Everhart Financial Group Inc.

Everhart Financial Group Inc. raised its position in American Tower Co. (NYSE:AMT) by 19.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,049 shares of the real estate investment trust’s stock after buying an additional 334 shares during the quarter. Everhart Financial Group Inc.’s holdings in American Tower were worth $446,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Partners Group Holding AG increased its stake in 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 valued at $69,438,000 after buying an additional 28,988 shares during the period. TigerOak Management L.L.C. acquired a new position in American Tower in the 4th quarter valued at $1,102,000. Aviva PLC increased its stake in American Tower by 13.4% in the 4th quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust’s stock valued at $71,252,000 after buying an additional 46,009 shares during the period. LGT Group Foundation increased its stake in American Tower by 16.9% in the 4th quarter. LGT Group Foundation now owns 42,608 shares of the real estate investment trust’s stock valued at $7,815,000 after buying an additional 6,165 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in American Tower in the 4th quarter valued at $193,246,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AMT shares. Barclays upped their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Wells Fargo & Company upped their target price on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. BMO Capital Markets upped their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Bank of America initiated coverage on shares of American Tower in a research report on Monday, May 19th. They set a “buy” rating and a $255.00 target price on the stock. Finally, Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $240.25.

American Tower Stock Down 1.4%

AMT stock opened at $214.76 on Friday. The company’s 50 day simple moving average is $214.91 and its 200-day simple moving average is $203.13. The firm has a market capitalization of $100.54 billion, a PE ratio of 90.62, a P/E/G ratio of 1.29 and a beta of 0.81. American Tower Co. has a 12 month low of $172.51 and a 12 month high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 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 analyst estimates of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.79 earnings per share. Equities analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.17%. American Tower’s dividend payout ratio (DPR) is currently 174.81%.

American Tower Company 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.