1,225 Shares in American Tower Corporation (NYSE:AMT) Bought by waypoint wealth counsel

waypoint wealth counsel bought a new stake in shares of American Tower Corporation (NYSE:AMT - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 1,225 shares of the real estate investment trust's stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMT. Cohen & Steers Inc. lifted its position in shares of 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 worth $3,516,890,000 after purchasing an additional 3,437,602 shares during the last quarter. Geode Capital Management LLC grew its position in shares of American Tower by 1.2% during the 4th 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 last quarter. FMR LLC lifted its holdings in American Tower by 5.0% in the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock worth $2,050,390,000 after acquiring an additional 537,136 shares during the last quarter. Capital Research Global Investors boosted its stake in American Tower by 66.5% in 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 acquiring an additional 3,421,413 shares during the period. Finally, Norges Bank bought a new position in shares of American Tower during the fourth quarter valued at approximately $1,164,851,000. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Down 1.6%

NYSE AMT traded down $3.57 during trading on Wednesday, hitting $220.34. 1,727,255 shares of the company traded hands, compared to its average volume of 2,491,396. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The business has a fifty day simple moving average of $215.86 and a 200 day simple moving average of $203.55. The company has a market capitalization of $103.15 billion, a P/E ratio of 56.64, a PEG ratio of 1.64 and a beta of 0.81. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The company's quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.79 earnings per share. As a group, sell-side analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio (DPR) is 174.81%.

Analysts Set New Price Targets

AMT has been the subject of a number of recent research reports. Raymond James Financial upped their price objective on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Morgan Stanley started coverage on shares of American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective on the stock. Scotiabank lifted their price target on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Citigroup upped their price objective on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Finally, BMO Capital Markets raised their target price on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, American Tower has an average rating of "Buy" and an average price target of $240.25.

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.