American Tower Corporation (NYSE:AMT) Holdings Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 759,877 shares of the real estate investment trust's stock after purchasing an additional 23,407 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.16% of American Tower worth $165,349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMT. North Capital Inc. acquired a new position in American Tower during the 1st quarter valued at approximately $25,000. Minot DeBlois Advisors LLC acquired a new position in American Tower during the 4th quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in American Tower during the 1st quarter valued at approximately $31,000. Graney & King LLC acquired a new position in American Tower during the 4th quarter valued at approximately $32,000. Finally, Lowe Wealth Advisors LLC boosted its position in 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 purchasing an additional 109 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

AMT has been the subject of a number of analyst reports. Bank of America began coverage on American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 price objective for the company. Barclays boosted their price target on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Wells Fargo & Company boosted their price target on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. JMP Securities boosted their price target on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 30th. Finally, Scotiabank boosted their price target on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $240.88.

American Tower Stock Up 0.3%

Shares of American Tower stock opened at $220.64 on Wednesday. The stock's fifty day moving average is $216.63 and its 200-day moving average is $205.42. The firm has a market capitalization of $103.29 billion, a PE ratio of 56.72, a price-to-earnings-growth ratio of 1.63 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. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping 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 return on equity of 30.20% and a net margin of 17.34%. American Tower's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 earnings per share. Equities analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's dividend payout ratio (DPR) 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.

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