American Tower Co. (NYSE:AMT) Shares Acquired by Fulton Bank N.A.

Fulton Bank N.A. grew its holdings in shares of American Tower Co. (NYSE:AMT) by 37.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,339 shares of the real estate investment trust’s stock after buying an additional 904 shares during the quarter. Fulton Bank N.A.’s holdings in American Tower were worth $612,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. CX Institutional boosted its holdings in shares of American Tower by 2.9% in the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after buying an additional 54 shares during the period. O Brien Greene & Co. Inc boosted its stake in American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after acquiring an additional 55 shares during the period. Palumbo Wealth Management LLC grew its holdings in shares of American Tower by 1.6% during the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after purchasing an additional 57 shares during the last quarter. Rehmann Capital Advisory Group raised its position in shares of American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 58 shares during the period. Finally, Sivia Capital Partners LLC lifted its holdings in shares of American Tower by 5.3% in the 3rd quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock worth $274,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of a number of recent research reports. Mizuho lowered their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. The Goldman Sachs Group dropped their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.67.

American Tower Stock Up 1.1 %

AMT opened at $179.15 on Friday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $83.71 billion, a PE ratio of 75.59, a P/E/G ratio of 1.31 and a beta of 0.84. The stock’s fifty day moving average is $195.74 and its 200-day moving average is $211.81. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.58 earnings per share. On average, equities analysts predict that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.62%. American Tower’s dividend payout ratio (DPR) is 273.42%.

American Tower 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.