American Tower Corporation (NYSE:AMT) Shares Purchased by Bogart Wealth LLC

Bogart Wealth LLC grew its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,233 shares of the real estate investment trust's stock after acquiring an additional 1,364 shares during the period. Bogart Wealth LLC's holdings in American Tower were worth $8,102,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. North Capital Inc. acquired a new position in shares of American Tower during the first quarter worth about $25,000. Minot DeBlois Advisors LLC acquired a new position in American Tower during the fourth quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of American Tower in the first quarter valued at about $31,000. Graney & King LLC purchased a new stake in shares of American Tower in the fourth quarter valued at about $32,000. Finally, Lowe Wealth Advisors LLC lifted its stake in shares of American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 109 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on AMT. Raymond James Financial upped their price target on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. UBS Group increased their price objective on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. JMP Securities increased 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 note on Wednesday, April 30th. Scotiabank upped their price objective on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 30th. Finally, Barclays lifted their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Two 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's stock. According to data from MarketBeat, American Tower currently has a consensus rating of "Buy" and an average price target of $240.88.

American Tower Trading Down 0.9%

AMT stock opened at $219.05 on Monday. 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 company has a fifty day moving average price of $216.39 and a two-hundred day moving average price of $206.33. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56. The stock has a market cap of $102.55 billion, a price-to-earnings ratio of 56.31, a price-to-earnings-growth ratio of 1.62 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last issued 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. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The business's quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.79 earnings per share. Equities analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 13th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, June 13th. American Tower's payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.