American Tower Co. (NYSE:AMT) Shares Purchased by Nixon Peabody Trust Co.

Nixon Peabody Trust Co. lifted its position in American Tower Co. (NYSE:AMT) by 6.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,520 shares of the real estate investment trust’s stock after purchasing an additional 2,774 shares during the period. Nixon Peabody Trust Co.’s holdings in American Tower were worth $9,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower in the 4th quarter valued at $29,000. Roxbury Financial LLC purchased a new stake in American Tower in the 4th quarter worth $32,000. Graney & King LLC purchased a new stake in American Tower in the 4th quarter worth $32,000. Lowe Wealth Advisors LLC increased its holdings in American Tower by 218.0% in the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 109 shares in the last quarter. Finally, Crowley Wealth Management Inc. purchased a new stake in American Tower in the 4th quarter worth $37,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of AMT opened at $213.69 on Wednesday. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56. The stock has a market cap of $100.04 billion, a PE ratio of 90.16, a P/E/G ratio of 1.29 and a beta of 0.82. The firm has a 50-day simple moving average of $215.28 and a two-hundred day simple moving average of $202.50. 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 quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.34. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the business earned $2.79 earnings per share. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Friday, June 13th. American Tower’s payout ratio is 174.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AMT shares. Barclays increased their target price on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Citigroup increased their target price on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Raymond James raised their price objective on shares of American Tower from $231.00 to $251.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, UBS Group raised their price objective on shares of American Tower from $245.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $240.25.

American Tower 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.