American Tower Corporation (NYSE:AMT) Shares Sold by Sigma Planning Corp

Sigma Planning Corp trimmed its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 36.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,706 shares of the real estate investment trust's stock after selling 2,657 shares during the quarter. Sigma Planning Corp's holdings in American Tower were worth $1,024,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. North Capital Inc. bought a new stake in American Tower in the first quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower in the 1st quarter valued at $31,000. Lowe Wealth Advisors LLC increased 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 in the last quarter. Minot DeBlois Advisors LLC bought a new position in shares of American Tower in the 4th quarter valued at about $29,000. Finally, Graney & King LLC acquired a new stake in American Tower in the 4th quarter valued at about $32,000. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMT has been the subject of several recent analyst reports. Bank of America began coverage on American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 price objective for the company. 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. Scotiabank raised their price target on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Morgan Stanley assumed coverage on American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price on the stock. Finally, Barclays boosted their price target on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Two equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $240.88.

American Tower Stock Performance

Shares of NYSE:AMT opened at $223.27 on Friday. The business has a fifty day moving average of $216.43 and a 200-day moving average of $207.09. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $104.52 billion, a PE ratio of 57.40, a price-to-earnings-growth ratio of 1.66 and a beta of 0.82. 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 posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates 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 firm's revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 EPS. On average, equities research analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were paid a dividend of $1.70 per share. The ex-dividend date was Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.05%. American Tower's dividend payout ratio is currently 174.81%.

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.

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