American Tower Corporation (NYSE:AMT) Shares Purchased by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC boosted its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 31.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,237 shares of the real estate investment trust's stock after purchasing an additional 2,945 shares during the quarter. Stonebridge Financial Group LLC's holdings in American Tower were worth $2,663,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC acquired a new position in American Tower in the fourth quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in American Tower in the first quarter valued at approximately $31,000. Graney & King LLC acquired a new position in American Tower in the fourth quarter valued at approximately $32,000. Lowe Wealth Advisors LLC boosted its holdings in American Tower by 218.0% in the first 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. Finally, Crowley Wealth Management Inc. acquired a new position in American Tower in the fourth quarter valued at approximately $37,000. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

American Tower stock opened at $218.06 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 debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50 day simple moving average of $215.69 and a 200-day simple moving average of $203.88. The stock has a market capitalization of $102.08 billion, a PE ratio of 56.06, a price-to-earnings-growth ratio of 1.62 and a beta of 0.81.

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 EPS for the quarter, topping the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 30.20% and a net margin of 17.34%. 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 business earned $2.79 earnings per share. The company's quarterly revenue was down 9.6% compared to the same quarter last year. Equities analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business 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. This represents a $6.80 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's dividend payout ratio (DPR) is presently 174.81%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AMT shares. UBS Group upped their price target on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Morgan Stanley started coverage on American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective for the company. Wells Fargo & Company increased their price objective on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Royal Bank Of Canada increased their price objective on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Raymond James Financial increased their price objective on American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $240.25.

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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