American Tower Corporation (NYSE:AMT) Shares Sold by Strategic Blueprint LLC

Strategic Blueprint LLC trimmed its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 47.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,721 shares of the real estate investment trust's stock after selling 1,571 shares during the quarter. Strategic Blueprint LLC's holdings in American Tower were worth $375,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Elmwood Wealth Management Inc. lifted its position in American Tower by 2.5% during the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock valued at $454,000 after acquiring an additional 50 shares during the last quarter. 4J Wealth Management LLC lifted its holdings in shares of American Tower by 4.0% during the 1st quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock valued at $283,000 after purchasing an additional 50 shares during the last quarter. Glenview Trust co boosted its position in shares of American Tower by 0.8% in the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock worth $1,294,000 after purchasing an additional 54 shares in the last quarter. CreativeOne Wealth LLC grew its stake in American Tower by 2.1% during the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock worth $477,000 after buying an additional 54 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. increased its position in American Tower by 2.9% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock valued at $416,000 after buying an additional 54 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

AMT has been the topic of a number of research analyst reports. JMP Securities boosted their price target on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research note on Wednesday, April 30th. Morgan Stanley began coverage on shares of American Tower in a research report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price on the stock. Scotiabank raised their price target on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 30th. Barclays boosted their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Finally, Bank of America began coverage on American Tower in a research note on Monday, May 19th. They issued a "buy" rating and a $255.00 target price for the company. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $240.88.

American Tower Stock Performance

NYSE AMT traded up $0.39 during mid-day trading on Thursday, reaching $222.22. 743,260 shares of the stock were exchanged, compared to its average volume of 2,500,975. 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 quick ratio of 0.81 and a current ratio of 0.81. The business's 50 day moving average is $216.55 and its 200-day moving average is $205.54. The company has a market capitalization of $104.03 billion, a P/E ratio of 57.08, a P/E/G ratio of 1.64 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The company's quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the firm earned $2.79 EPS. On average, equities research analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.06%. American Tower's dividend payout ratio (DPR) is 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.