Fulton Bank N.A. Has $612,000 Stock Holdings in American Tower Co. (NYSE:AMT)

Fulton Bank N.A. boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 37.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,339 shares of the real estate investment trust’s stock after buying an additional 904 shares during the period. Fulton Bank N.A.’s holdings in American Tower were worth $612,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. CX Institutional lifted its position in shares of American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 54 shares in the last quarter. O Brien Greene & Co. Inc boosted its stake in shares of American Tower by 2.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after buying an additional 55 shares during the period. Palumbo Wealth Management LLC increased its stake in shares of American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after acquiring an additional 57 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 58 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its position in American Tower by 5.3% during the third quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock valued at $274,000 after purchasing an additional 59 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of NYSE:AMT opened at $179.15 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The business has a 50 day moving average price of $195.74 and a 200 day moving average price of $211.81. The company has a market cap of $83.71 billion, a price-to-earnings ratio of 75.59, a PEG ratio of 1.31 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

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

American Tower Dividend Announcement

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. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.62%. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMT. Mizuho cut their price target 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 lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective 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. Finally, The Goldman Sachs Group lowered their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $233.67.

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.