AE Wealth Management LLC Buys 1,331 Shares of American Tower Corporation (NYSE:AMT)

AE Wealth Management LLC increased its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 6.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,910 shares of the real estate investment trust's stock after buying an additional 1,331 shares during the period. AE Wealth Management LLC's holdings in American Tower were worth $4,550,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cohen & Steers Inc. raised its stake in shares of American Tower by 21.8% during the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after buying an additional 3,437,602 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of American Tower by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock worth $2,074,956,000 after buying an additional 129,192 shares during the last quarter. FMR LLC raised its stake in shares of American Tower by 5.0% during the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock worth $2,050,390,000 after buying an additional 537,136 shares during the last quarter. Capital Research Global Investors grew its holdings in American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock valued at $1,570,547,000 after purchasing an additional 3,421,413 shares during the period. Finally, Norges Bank acquired a new position in American Tower during the fourth quarter valued at approximately $1,164,851,000. 92.69% of the stock is owned by institutional investors.

American Tower Stock Down 0.6%

AMT traded down $1.49 during trading hours on Friday, hitting $229.75. 1,031,210 shares of the company's stock were exchanged, compared to its average volume of 1,726,093. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56. The stock's 50-day moving average is $218.70 and its two-hundred day moving average is $209.08. The stock has a market cap of $107.55 billion, a price-to-earnings ratio of 59.06, a PEG ratio of 1.27 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 (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping 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 analysts' expectations of $2.54 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. The firm's revenue was down 9.6% on a year-over-year basis. Sell-side analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 13th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Friday, June 13th. American Tower's dividend payout ratio (DPR) is currently 174.81%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMT shares. Bank of America started coverage on shares of American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 price objective for the company. Royal Bank Of Canada boosted their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Barclays boosted their price objective on shares of American Tower from $223.00 to $246.00 and gave the company an "overweight" rating in a report on Wednesday. Wells Fargo & Company boosted their price objective 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. Finally, UBS Group boosted their price objective on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $242.31.

American Tower Company 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.