TFR Capital LLC. Purchases New Shares in American Tower Corporation (NYSE:AMT)

TFR Capital LLC. purchased a new stake in American Tower Corporation (NYSE:AMT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,354 shares of the real estate investment trust's stock, valued at approximately $512,000.

A number of other hedge funds also recently made changes to their positions in the stock. North Capital Inc. acquired a new position in American Tower in the 1st quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of American Tower in the first quarter worth $31,000. Lowe Wealth Advisors LLC increased its holdings in American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 109 shares during the period. Minot DeBlois Advisors LLC bought a new position in American Tower during the 4th quarter worth $29,000. Finally, Graney & King LLC acquired a new position in American Tower during the 4th quarter worth about $32,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMT shares. Royal Bank Of Canada raised their price objective on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. JMP Securities raised their price target on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 30th. Raymond James Financial upped their price objective on shares of American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. UBS Group increased their price objective on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company boosted their target price on shares of American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $240.88.

American Tower Stock Down 0.9%

American Tower stock traded down $1.96 during mid-day trading on Friday, reaching $219.05. The stock had a trading volume of 1,358,450 shares, compared to its average volume of 2,504,864. The firm has a market capitalization of $102.55 billion, a PE ratio of 56.31, a price-to-earnings-growth ratio of 1.63 and a beta of 0.82. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The stock's 50-day simple moving average is $216.39 and its 200-day simple moving average is $206.17. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81.

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

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were issued a $1.70 dividend. The ex-dividend date was Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.10%. American Tower's dividend payout ratio is presently 174.81%.

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.