Golden State Equity Partners Sells 65 Shares of American Tower Corporation (NYSE:AMT)

Golden State Equity Partners decreased its position in American Tower Corporation (NYSE:AMT) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,156 shares of the real estate investment trust’s stock after selling 65 shares during the quarter. Golden State Equity Partners’ holdings in American Tower were worth $252,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Cohen & Steers Inc. grew its stake in shares of American Tower by 21.8% in the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock valued at $3,516,890,000 after buying an additional 3,437,602 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of American Tower by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust’s stock valued at $2,074,956,000 after buying an additional 129,192 shares in the last quarter. FMR LLC boosted its position in American Tower by 5.0% during the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust’s stock worth $2,050,390,000 after purchasing an additional 537,136 shares during the period. Capital Research Global Investors boosted its position in American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock worth $1,570,547,000 after purchasing an additional 3,421,413 shares during the period. Finally, Norges Bank bought a new stake in American Tower during the fourth quarter worth approximately $1,164,851,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of NYSE AMT opened at $217.64 on Friday. The business has a fifty day simple moving average of $215.79 and a 200 day simple moving average of $203.72. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43. The firm has a market capitalization of $101.89 billion, a price-to-earnings ratio of 55.95, a PEG ratio of 1.63 and a beta of 0.81. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the prior year, the company posted $2.79 earnings per share. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. Sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMT. Hsbc Global Res raised American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. JMP Securities upped their target price on American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 30th. Barclays upped their target price on American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Royal Bank Of Canada upped their target price on American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Finally, Morgan Stanley began coverage on American Tower in a research report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 target price for the company. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus 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.