CWA Asset Management Group LLC Sells 1,846 Shares of American Tower Corporation (NYSE:AMT)

CWA Asset Management Group LLC cut its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 8.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,393 shares of the real estate investment trust's stock after selling 1,846 shares during the quarter. CWA Asset Management Group LLC's holdings in American Tower were worth $4,438,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after buying an additional 2,104 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of American Tower by 2.4% in the 4th quarter. CIBC Asset Management Inc now owns 90,746 shares of the real estate investment trust's stock valued at $16,644,000 after acquiring an additional 2,136 shares in the last quarter. Citizens & Northern Corp lifted its holdings in American Tower by 0.9% in the 4th quarter. Citizens & Northern Corp now owns 9,409 shares of the real estate investment trust's stock worth $1,726,000 after purchasing an additional 84 shares during the last quarter. Venturi Wealth Management LLC boosted its position in American Tower by 108.0% during the fourth quarter. Venturi Wealth Management LLC now owns 337 shares of the real estate investment trust's stock worth $62,000 after purchasing an additional 175 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in American Tower during the fourth quarter valued at approximately $48,000. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Bank of America began coverage on shares of American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 target price for the company. Morgan Stanley began coverage on American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price for the company. Wells Fargo & Company upped their price target on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. 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 research report on Wednesday, April 30th. Finally, Barclays upped 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. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, American Tower currently has a consensus rating of "Buy" and an average price target of $240.25.

American Tower Price Performance

AMT stock traded up $0.36 during trading on Thursday, hitting $215.50. The company had a trading volume of 1,665,651 shares, compared to its average volume of 2,486,491. The company has a fifty day moving average price of $215.57 and a two-hundred day moving average price of $203.31. 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 market cap of $100.88 billion, a P/E ratio of 55.40, a P/E/G ratio of 1.60 and a beta of 0.81. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43.

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, beating the consensus estimate of $2.41 by $0.34. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The firm's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.79 EPS. Equities research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's dividend payout ratio (DPR) 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.