Pathstone Holdings LLC Has $11.23 Million Stock Position in American Tower Co. (NYSE:AMT)

Pathstone Holdings LLC trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 5.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,050 shares of the real estate investment trust’s stock after selling 3,532 shares during the period. Pathstone Holdings LLC’s holdings in American Tower were worth $11,226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Cohen & Steers Inc. raised its position in American Tower by 21.8% during the fourth 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 during the period. Geode Capital Management LLC raised its position in American Tower by 1.2% during the fourth 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 during the period. FMR LLC raised 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 valued at $2,050,390,000 after buying an additional 537,136 shares during the period. Capital Research Global Investors raised 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 valued at $1,570,547,000 after buying an additional 3,421,413 shares during the period. Finally, Norges Bank purchased a new position in American Tower in the fourth quarter valued at about $1,164,851,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of recent research reports. Barclays boosted their target price on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Royal Bank of Canada boosted their target price on American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Citigroup boosted their target price on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, Scotiabank boosted their target price on American Tower from $234.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Buy” and an average target price of $239.27.

American Tower Stock Performance

AMT opened at $211.55 on Friday. The company has a market cap of $99.03 billion, a PE ratio of 89.26, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The stock has a 50-day moving average of $214.87 and a 200-day moving average of $201.63. American Tower Co. has a 52-week low of $172.51 and a 52-week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the company earned $2.79 EPS. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.21%. American Tower’s payout ratio is 174.81%.

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.