American Tower Corporation (NYSE:AMT) Shares Sold by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC lowered its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 8.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,776 shares of the real estate investment trust's stock after selling 1,429 shares during the period. Hunter Perkins Capital Management LLC's holdings in American Tower were worth $3,433,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AMT. Cohen & Steers Inc. grew its position in American Tower by 21.8% during the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after purchasing an additional 3,437,602 shares in the last quarter. Geode Capital Management LLC raised its holdings in American Tower by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock valued at $2,074,956,000 after acquiring an additional 129,192 shares in the last quarter. FMR LLC boosted its position in shares of American Tower by 5.0% during the 4th quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock valued at $2,050,390,000 after acquiring an additional 537,136 shares in the last quarter. Capital Research Global Investors raised its stake in American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after acquiring an additional 3,421,413 shares in the last quarter. Finally, Norges Bank bought a new position in shares of American Tower in the fourth quarter valued at approximately $1,164,851,000. Institutional investors own 92.69% of the company's stock.

American Tower Stock Down 1.2%

Shares of NYSE AMT opened at $217.64 on Friday. The company has a 50 day simple moving average of $215.79 and a 200-day simple moving average of $203.72. American Tower Corporation has a 1 year low of $172.51 and a 1 year 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 company has a market capitalization of $101.89 billion, a P/E ratio of 55.95, a P/E/G ratio of 1.63 and a beta of 0.81.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.34. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates 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 last year, the company earned $2.79 EPS. On average, equities research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio (DPR) is presently 174.81%.

Analyst Upgrades and Downgrades

Several analysts have commented on AMT shares. 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 target price for the company. Barclays lifted their target price on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. 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. JMP Securities raised their price objective 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. Finally, Royal Bank Of Canada boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $240.25.

About American Tower

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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