1,655 Shares in American Tower Corporation (NYSE:AMT) Bought by MBE Wealth Management LLC

MBE Wealth Management LLC acquired a new position in shares of American Tower Corporation (NYSE:AMT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,655 shares of the real estate investment trust's stock, valued at approximately $360,000.

Several other hedge funds also recently modified their holdings of AMT. Norges Bank acquired a new stake in shares of American Tower during the fourth quarter worth approximately $1,164,851,000. Cohen & Steers Inc. increased its holdings 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 buying an additional 3,437,602 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after buying an additional 3,421,413 shares in the last quarter. Capital World Investors increased its holdings in shares of American Tower by 160.6% during the fourth quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust's stock worth $902,396,000 after buying an additional 3,032,005 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of American Tower by 23,627.3% during the first quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust's stock worth $370,346,000 after buying an additional 1,694,784 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Trading Up 0.8%

AMT stock traded up $1.75 during midday trading on Friday, reaching $217.23. The company's stock had a trading volume of 4,018,525 shares, compared to its average volume of 2,492,242. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. The stock has a market cap of $101.70 billion, a PE ratio of 55.84, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.43. The business's 50-day simple moving average is $215.65 and its 200-day simple moving average is $203.30.

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

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be issued a $1.70 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.13%. American Tower's dividend payout ratio (DPR) is presently 174.81%.

Analyst Upgrades and Downgrades

AMT has been the subject of several recent analyst reports. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Bank of America began coverage on shares of American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 price target on the stock. Morgan Stanley began coverage on shares of American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target on the stock. Royal Bank Of Canada increased their price target on shares of American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Scotiabank increased their price target on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower currently has a consensus rating of "Buy" and a consensus price target of $240.25.

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.