UMB Bank n.a. Has $1.69 Million Stock Position in American Tower Co. (NYSE:AMT)

UMB Bank n.a. reduced its holdings in American Tower Co. (NYSE:AMT) by 1.2% in the 1st quarter, HoldingsChannel reports. The fund owned 7,787 shares of the real estate investment trust’s stock after selling 93 shares during the period. UMB Bank n.a.’s holdings in American Tower were worth $1,694,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Partners Group Holding AG increased its position in American Tower by 8.3% in the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock valued at $69,438,000 after acquiring an additional 28,988 shares during the period. TigerOak Management L.L.C. acquired a new stake in shares of American Tower during the fourth quarter worth $1,102,000. Aviva PLC increased its position in shares of American Tower by 13.4% during the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust’s stock worth $71,252,000 after buying an additional 46,009 shares during the period. LGT Group Foundation increased its position in shares of American Tower by 16.9% during the fourth quarter. LGT Group Foundation now owns 42,608 shares of the real estate investment trust’s stock worth $7,815,000 after buying an additional 6,165 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of American Tower during the fourth quarter worth $193,246,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AMT shares. Raymond James increased their price objective on shares of American Tower from $231.00 to $251.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Morgan Stanley started coverage on shares of American Tower in a research report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price objective for the company. UBS Group increased their price objective on shares of American Tower from $245.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Barclays increased their price objective on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $240.25.

American Tower Stock Up 0.1%

American Tower stock opened at $212.81 on Tuesday. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56. The firm has a market capitalization of $99.62 billion, a price-to-earnings ratio of 89.79, a price-to-earnings-growth ratio of 1.29 and a beta of 0.81. The firm’s fifty day moving average price is $215.00 and its two-hundred day moving average price is $202.85. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

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 for the quarter, beating 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 last year, the firm earned $2.79 earnings per share. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, equities research analysts predict that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm 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 $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Friday, June 13th. American Tower’s dividend payout ratio (DPR) 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.