Dakota Wealth Management Lowers Position in American Tower Corporation (NYSE:AMT)

Dakota Wealth Management trimmed its position in American Tower Corporation (NYSE:AMT - Free Report) by 12.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 12,022 shares of the real estate investment trust's stock after selling 1,734 shares during the period. Dakota Wealth Management's holdings in American Tower were worth $2,616,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. North Capital Inc. bought a new position in shares of American Tower during the first quarter valued at $25,000. Minot DeBlois Advisors LLC bought a new position in American Tower during the 4th quarter worth $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in American Tower during the 1st quarter worth about $31,000. Graney & King LLC acquired a new position in American Tower during the 4th quarter worth about $32,000. Finally, Lowe Wealth Advisors LLC grew its position in shares of American Tower by 218.0% in the 1st 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 last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Up 2.0%

AMT stock traded up $4.39 during trading on Wednesday, reaching $223.31. 2,426,456 shares of the stock were exchanged, compared to its average volume of 2,505,810. The firm's 50 day moving average is $216.32 and its 200 day moving average is $206.81. The firm has a market cap of $104.54 billion, a P/E ratio of 57.41, a price-to-earnings-growth ratio of 1.62 and a beta of 0.82. 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 Corporation has a twelve month low of $172.51 and a twelve month high of $243.56.

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

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders 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 3.05%. The ex-dividend date of this dividend was Friday, June 13th. American Tower's dividend payout ratio is currently 174.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMT. Wells Fargo & Company raised their price objective on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Raymond James Financial increased 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 report on Wednesday, April 30th. JMP Securities boosted their price target on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 30th. Bank of America started coverage on shares of American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 price objective for the company. Finally, Barclays lifted their target price on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, American Tower has a consensus rating of "Buy" and an average target price of $240.88.

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.