American Tower Corporation (NYSE:AMT) Position Cut by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its stake in American Tower Corporation (NYSE:AMT - Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,384,505 shares of the real estate investment trust's stock after selling 20,363 shares during the quarter. American Tower comprises 2.8% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's portfolio, making the stock its 10th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.30% of American Tower worth $294,346,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Glenview Trust co boosted its position in shares of American Tower by 0.8% during the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock valued at $1,294,000 after buying an additional 54 shares during the period. CreativeOne Wealth LLC boosted its holdings in American Tower by 2.1% during the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock valued at $477,000 after acquiring an additional 54 shares during the period. Fortitude Advisory Group L.L.C. grew its position in American Tower by 2.9% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock valued at $416,000 after acquiring an additional 54 shares during the last quarter. Veracity Capital LLC grew its position in American Tower by 4.7% in the 1st quarter. Veracity Capital LLC now owns 1,237 shares of the real estate investment trust's stock valued at $269,000 after acquiring an additional 56 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC increased its stake in American Tower by 1.1% in the fourth quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust's stock worth $978,000 after purchasing an additional 58 shares during the period. Institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. UBS Group upped their price target on shares of American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. JMP Securities boosted their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. Royal Bank Of Canada raised their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Morgan Stanley started coverage on American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price target for the company. Finally, Raymond James Financial increased 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. Two investment 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's stock. According to data from MarketBeat, American Tower currently has a consensus rating of "Buy" and a consensus price target of $240.25.

American Tower Stock Down 1.2%

Shares of American Tower stock opened at $217.64 on Friday. 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 company has a market cap of $101.89 billion, a P/E ratio of 55.95, a PEG ratio of 1.63 and a beta of 0.81. The firm's 50 day moving average price is $215.79 and its 200-day moving average price is $203.72. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $243.56.

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

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.12%. American Tower's payout ratio is 174.81%.

About American Tower

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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