Strategic Blueprint LLC Has $375,000 Position in American Tower Corporation (NYSE:AMT)

Strategic Blueprint LLC reduced its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 47.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 hedge funds have also recently made changes to their positions in the stock. Partners Group Holding AG raised its stake in American Tower by 8.3% in the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock valued at $69,438,000 after buying an additional 28,988 shares during the last quarter. Aviva PLC raised its stake in American Tower by 13.4% in the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock valued at $71,252,000 after buying an additional 46,009 shares during the last quarter. Golden State Wealth Management LLC raised its stake in American Tower by 23.0% in the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock valued at $80,000 after buying an additional 69 shares during the last quarter. Shum Financial Group Inc. raised its stake in American Tower by 3.5% in the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock valued at $913,000 after buying an additional 141 shares during the last quarter. Finally, Mariner LLC raised its stake in American Tower by 30.9% in the fourth quarter. Mariner LLC now owns 363,088 shares of the real estate investment trust's stock valued at $66,585,000 after buying an additional 85,693 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMT. UBS Group increased their price objective on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday. Royal Bank Of Canada lifted their target price on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Scotiabank boosted their target price on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 30th. JMP Securities boosted their target price on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. Finally, Bank of America started coverage on American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 target price for the company. Two equities research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $240.88.

American Tower Stock Performance

American Tower stock traded down $1.96 on Friday, reaching $219.05. 1,358,450 shares of the stock were exchanged, compared to its average volume of 2,503,799. The stock has a market cap of $102.55 billion, a PE ratio of 56.31, a PEG ratio of 1.64 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. The firm has a fifty day moving average price of $216.48 and a two-hundred day moving average price of $205.79.

American Tower (NYSE:AMT - Get Free Report) last released 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. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the business earned $2.79 EPS. The business's revenue was down 9.6% on a year-over-year basis. Sell-side analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be paid a $1.70 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.10%. American Tower's 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.