American Tower Corporation (NYSE:AMT) Shares Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its stake in American Tower Corporation (NYSE:AMT - Free Report) by 9.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,086 shares of the real estate investment trust's stock after acquiring an additional 2,949 shares during the period. Kestra Private Wealth Services LLC's holdings in American Tower were worth $7,635,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. North Capital Inc. acquired a new stake in shares of American Tower during the first quarter worth $25,000. Minot DeBlois Advisors LLC bought a new position in shares of American Tower during the 4th quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of American Tower during the 1st quarter valued at about $31,000. Graney & King LLC bought a new position in shares of American Tower during the 4th quarter valued at about $32,000. Finally, Lowe Wealth Advisors LLC boosted its position 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 purchasing an additional 109 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on AMT. Bank of America began coverage on shares of American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 target price for the company. Scotiabank raised their target price on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 30th. Raymond James Financial raised their target price on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Morgan Stanley began coverage on shares of American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price for the company. Finally, JMP Securities raised their target price on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 30th. Two research 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 company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $240.88.

American Tower Stock Up 0.8%

AMT opened at $224.87 on Friday. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81. The firm's fifty day moving average price is $216.53 and its two-hundred day moving average price is $207.55. The company has a market capitalization of $105.27 billion, a P/E ratio of 57.81, a P/E/G ratio of 1.67 and a beta of 0.82.

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, beating analysts' consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The firm'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 business posted $2.79 earnings per share. On average, analysts anticipate that American Tower Corporation will post 10.14 EPS for the current 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 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Friday, June 13th. American Tower's dividend payout ratio (DPR) is currently 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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