2,350 Shares in American Tower Corporation (NYSE:AMT) Bought by Advisors Preferred LLC

Advisors Preferred LLC purchased a new position in shares of American Tower Corporation (NYSE:AMT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,350 shares of the real estate investment trust's stock, valued at approximately $516,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMT. North Capital Inc. bought a new stake in shares of American Tower during the first quarter worth about $25,000. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower in the fourth quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower in the first quarter worth approximately $31,000. Graney & King LLC acquired a new position in shares of American Tower in the fourth quarter worth approximately $32,000. Finally, Lowe Wealth Advisors LLC lifted its stake in shares of 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 worth $35,000 after acquiring an additional 109 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America assumed coverage on American Tower in a research note on Monday, May 19th. They issued a "buy" rating and a $255.00 price objective on the stock. JMP Securities lifted their price objective on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada lifted their price objective on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Barclays lifted their price objective on American Tower from $223.00 to $246.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Morgan Stanley initiated coverage on American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, American Tower currently has an average rating of "Buy" and an average target price of $242.31.

American Tower Stock Up 0.5%

Shares of NYSE AMT traded up $1.12 during midday trading on Thursday, hitting $231.30. 2,034,696 shares of the stock traded hands, compared to its average volume of 1,726,359. The company has a market cap of $108.28 billion, a PE ratio of 59.46, a P/E/G ratio of 1.27 and a beta of 0.82. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56. The business has a 50 day moving average price of $218.37 and a two-hundred day moving average price of $208.71. 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 released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating the consensus estimate of $2.41 by $0.34. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The company's quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.79 earnings per share. On average, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were issued a dividend of $1.70 per share. The ex-dividend date was Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 2.94%. American Tower's dividend payout ratio is 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.