First Financial Bankshares Inc Purchases Shares of 141,027 American Tower Co. (NYSE:AMT)

First Financial Bankshares Inc purchased a new stake in American Tower Co. (NYSE:AMTFree Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 141,027 shares of the real estate investment trust’s stock, valued at approximately $30,445,000.

Other hedge funds also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC lifted its holdings in shares of American Tower by 18.8% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 1,688 shares of the real estate investment trust’s stock valued at $278,000 after acquiring an additional 267 shares in the last quarter. Hunter Associates Investment Management LLC boosted its position in American Tower by 86.9% during the 3rd quarter. Hunter Associates Investment Management LLC now owns 3,165 shares of the real estate investment trust’s stock worth $516,000 after purchasing an additional 1,472 shares during the period. Nichols & Pratt Advisers LLP MA boosted its position in American Tower by 5.1% during the 3rd quarter. Nichols & Pratt Advisers LLP MA now owns 1,550 shares of the real estate investment trust’s stock worth $255,000 after purchasing an additional 75 shares during the period. 1ST Source Bank boosted its position in American Tower by 17.3% during the 3rd quarter. 1ST Source Bank now owns 2,156 shares of the real estate investment trust’s stock worth $355,000 after purchasing an additional 318 shares during the period. Finally, Cornerstone Advisors LLC purchased a new stake in American Tower during the 3rd quarter worth $2,006,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 0.4 %

Shares of American Tower stock traded down $0.81 during trading on Tuesday, reaching $193.91. The company had a trading volume of 1,562,785 shares, compared to its average volume of 2,447,718. The company has a market cap of $90.55 billion, a price-to-earnings ratio of 44.19, a price-to-earnings-growth ratio of 1.39 and a beta of 0.79. The firm’s fifty day moving average is $184.85 and its 200-day moving average is $196.21. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10.

American Tower (NYSE:AMTGet Free Report) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.54 EPS. On average, analysts anticipate that American Tower Co. will post 9.98 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 3.34%. American Tower’s dividend payout ratio (DPR) is 146.61%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AMT shares. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. cut their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. BMO Capital Markets cut their price objective on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Morgan Stanley boosted their price objective on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Barclays cut their price objective on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $220.91.

View Our Latest Stock Report on AMT

Insider Buying and Selling

In related news, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now owns 28,413 shares in the company, valued at $5,692,828.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the transaction, the executive vice president now owns 28,413 shares in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the transaction, the director now owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

About American Tower

(Free Report)

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.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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