American Tower Co. (NYSE:AMT) Shares Sold by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC lessened its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 93.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,689 shares of the real estate investment trust's stock after selling 23,747 shares during the quarter. Gilman Hill Asset Management LLC's holdings in American Tower were worth $367,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Minot DeBlois Advisors LLC purchased a new position in shares of American Tower during the 4th quarter valued at approximately $29,000. Roxbury Financial LLC purchased a new position in shares of American Tower during the 4th quarter valued at approximately $32,000. Graney & King LLC purchased a new position in shares of American Tower during the 4th quarter valued at approximately $32,000. Lowe Wealth Advisors LLC boosted its stake in shares of American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 109 shares during the last quarter. Finally, Crowley Wealth Management Inc. purchased a new position in shares of American Tower during the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Performance

AMT stock opened at $216.14 on Friday. American Tower Co. has a 1 year low of $172.51 and a 1 year high of $243.56. The stock's fifty day moving average is $215.23 and its two-hundred day moving average is $202.70. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $101.18 billion, a price-to-earnings ratio of 91.20, a PEG ratio of 1.29 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. During the same period in the previous year, the business earned $2.79 earnings per share. The company's revenue was down 9.6% on a year-over-year basis. On average, research analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's dividend payout ratio is currently 174.81%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AMT shares. Morgan Stanley started coverage on American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price objective on the stock. UBS Group raised their price objective on American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Raymond James raised 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. Bank of America started coverage on American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 price objective on the stock. Finally, BMO Capital Markets raised their price objective on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average 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.

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