American Tower Co. (NYSE:AMT) Shares Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 6.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,939 shares of the real estate investment trust’s stock after purchasing an additional 119 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in American Tower were worth $422,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Capital Investment Advisors LLC lifted its position in shares of American Tower by 33.6% during the first quarter. Capital Investment Advisors LLC now owns 3,795 shares of the real estate investment trust’s stock worth $826,000 after purchasing an additional 955 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of American Tower by 4.2% during the first quarter. Park Avenue Securities LLC now owns 23,284 shares of the real estate investment trust’s stock worth $5,067,000 after purchasing an additional 949 shares in the last quarter. Kennebec Savings Bank raised its holdings in American Tower by 3.5% in the first quarter. Kennebec Savings Bank now owns 2,131 shares of the real estate investment trust’s stock valued at $464,000 after acquiring an additional 72 shares in the last quarter. Miracle Mile Advisors LLC raised its holdings in American Tower by 25.4% in the first quarter. Miracle Mile Advisors LLC now owns 4,679 shares of the real estate investment trust’s stock valued at $1,018,000 after acquiring an additional 949 shares in the last quarter. Finally, Wedmont Private Capital raised its holdings in American Tower by 7.6% in the first quarter. Wedmont Private Capital now owns 3,038 shares of the real estate investment trust’s stock valued at $648,000 after acquiring an additional 214 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $214.53 on Wednesday. The firm’s fifty day simple moving average is $214.72 and its 200-day simple moving average is $202.93. The stock has a market capitalization of $100.43 billion, a price-to-earnings ratio of 90.52, a PEG 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 announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating analysts’ consensus estimates 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 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 previous year, the company posted $2.79 EPS. As a group, equities analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a $1.70 dividend. 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 174.81%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMT. BMO Capital Markets raised their target price on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. UBS Group raised their target price on shares of American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Raymond James 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 report on Wednesday, April 30th. Finally, Barclays raised their target price on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower presently has an average rating of “Buy” and an average price target of $240.25.

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.