American Tower Co. (NYSE:AMT) Shares Bought by First Financial Bank Trust Division

First Financial Bank Trust Division grew its stake in American Tower Co. (NYSE:AMT) by 4.6% in the fourth quarter, Holdings Channel reports. The fund owned 10,344 shares of the real estate investment trust’s stock after purchasing an additional 458 shares during the period. First Financial Bank Trust Division’s holdings in American Tower were worth $1,897,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Balentine LLC purchased a new position in American Tower during the third quarter worth about $586,000. Point72 Hong Kong Ltd purchased a new stake in shares of American Tower during the 3rd quarter valued at approximately $1,156,000. Czech National Bank lifted its holdings in American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after acquiring an additional 6,163 shares during the last quarter. Banque Cantonale Vaudoise grew its position in American Tower by 46.8% in the third quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock worth $5,980,000 after acquiring an additional 8,195 shares during the period. Finally, Savvy Advisors Inc. increased its stake in American Tower by 268.2% during the third quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust’s stock worth $1,038,000 after acquiring an additional 3,251 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on AMT shares. Barclays decreased their price target on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Scotiabank dropped their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. Finally, BMO Capital Markets decreased their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.08.

American Tower Stock Down 1.3 %

Shares of NYSE AMT traded down $2.38 during mid-day trading on Thursday, hitting $181.03. The company had a trading volume of 2,607,555 shares, compared to its average volume of 2,340,231. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market capitalization of $84.59 billion, a PE ratio of 76.38, a price-to-earnings-growth ratio of 1.31 and a beta of 0.83. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The business’s 50-day simple moving average is $200.37 and its 200 day simple moving average is $212.51.

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

American Tower Announces Dividend

The company also recently disclosed 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. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio is presently 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.