UMB Bank n.a. Sells 93 Shares of American Tower Co. (NYSE:AMT)

UMB Bank n.a. trimmed its position in shares of American Tower Co. (NYSE:AMT) by 1.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,787 shares of the real estate investment trust’s stock after selling 93 shares during the quarter. UMB Bank n.a.’s holdings in American Tower were worth $1,694,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lowe Wealth Advisors LLC boosted its position in shares of American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 109 shares in the last quarter. Minot DeBlois Advisors LLC bought a new position in shares of American Tower during the fourth quarter worth $29,000. Graney & King LLC bought a new position in shares of American Tower during the fourth quarter worth $32,000. Roxbury Financial LLC bought a new position in shares of American Tower during the fourth quarter worth $32,000. Finally, Global Wealth Strategies & Associates lifted its position in American Tower by 193.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 182 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 120 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMT shares. Bank of America started coverage on shares of American Tower in a research report on Monday, May 19th. They issued a “buy” rating and a $255.00 price objective on the stock. Barclays boosted their price objective 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. Royal Bank of Canada lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Citigroup lifted their price target on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. 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. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $240.25.

American Tower Stock Performance

NYSE AMT opened at $212.81 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market capitalization of $99.62 billion, a P/E ratio of 89.79, 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 firm has a 50-day moving average price of $215.00 and a two-hundred day moving average price of $202.85.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.79 EPS. Analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s payout ratio is 174.81%.

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.