Quintet Private Bank Europe S.A. Boosts Holdings in American Tower Co. (NYSE:AMT)

Quintet Private Bank Europe S.A. raised its holdings in American Tower Co. (NYSE:AMT) by 3.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 143,978 shares of the real estate investment trust’s stock after purchasing an additional 5,440 shares during the quarter. American Tower accounts for approximately 1.8% of Quintet Private Bank Europe S.A.’s investment portfolio, making the stock its 17th biggest holding. Quintet Private Bank Europe S.A.’s holdings in American Tower were worth $31,330,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC purchased a new position in American Tower during the fourth quarter valued at approximately $29,000. Roxbury Financial LLC acquired a new stake in shares of American Tower during the 4th quarter worth approximately $32,000. Graney & King LLC acquired a new stake in shares of American Tower during the 4th quarter worth approximately $32,000. Lowe Wealth Advisors LLC grew its stake in shares of American Tower by 218.0% during the 1st 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 during the period. Finally, Crowley Wealth Management Inc. purchased a new stake in American Tower during the fourth quarter worth $37,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

American Tower stock opened at $217.69 on Friday. American Tower Co. has a 52-week low of $172.51 and a 52-week high of $243.56. The firm has a market capitalization of $101.91 billion, a price-to-earnings ratio of 91.85, a PEG ratio of 1.29 and a beta of 0.81. The company has a fifty day simple moving average of $214.69 and a 200-day simple moving average of $203.08. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last posted 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. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the business posted $2.79 earnings per share. American Tower’s quarterly revenue was down 9.6% on a year-over-year basis. On average, equities analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s payout ratio is currently 174.81%.

Wall Street Analyst Weigh In

AMT has been the topic of a number of recent analyst reports. Morgan Stanley assumed coverage on shares of American Tower in a report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price target on the stock. Raymond James lifted their price target on American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. JMP Securities boosted their price objective on American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 30th. Hsbc Global Res raised American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, Wells Fargo & Company lifted their price target on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Two research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price 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.