American Tower Corporation (NYSE:AMT) Shares Bought by Applied Capital LLC FL

Applied Capital LLC FL raised its stake in American Tower Corporation (NYSE:AMT - Free Report) by 93.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,625 shares of the real estate investment trust's stock after purchasing an additional 2,233 shares during the quarter. Applied Capital LLC FL's holdings in American Tower were worth $1,006,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMT. Norges Bank acquired a new position in shares of American Tower in the 4th quarter valued at $1,164,851,000. Cohen & Steers Inc. boosted its holdings in shares of American Tower by 21.8% in the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock valued at $3,516,890,000 after purchasing an additional 3,437,602 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of American Tower by 66.5% in the 4th 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 last quarter. Capital World Investors boosted its holdings in shares of American Tower by 160.6% in the 4th quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust's stock valued at $902,396,000 after purchasing an additional 3,032,005 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of American Tower by 23,627.3% in the 1st quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust's stock valued at $370,346,000 after purchasing an additional 1,694,784 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research analyst reports. Scotiabank lifted their price target on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Morgan Stanley started coverage on shares of American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price on the stock. Raymond James Financial raised their target price on shares of American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Barclays raised their target price on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Finally, Bank of America started coverage on shares of American Tower in a research note on Monday, May 19th. They issued a "buy" rating and a $255.00 target price on the stock. Two investment 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 stock. According to data from MarketBeat.com, American Tower has an average rating of "Buy" and an average price target of $240.88.

American Tower Stock Performance

American Tower stock opened at $219.05 on Friday. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56. The company has a market capitalization of $102.55 billion, a price-to-earnings ratio of 56.31, a price-to-earnings-growth ratio of 1.64 and a beta of 0.82. 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 $216.39 and its 200 day moving average price is $206.03.

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. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the firm posted $2.79 EPS. The firm's quarterly revenue was down 9.6% on a year-over-year basis. On average, research analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Friday, June 13th. American Tower's payout ratio is currently 174.81%.

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.

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