American Tower Corporation (NYSE:AMT) Stock Position Lifted by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale grew its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 545,582 shares of the real estate investment trust's stock after buying an additional 10,201 shares during the period. DekaBank Deutsche Girozentrale owned about 0.12% of American Tower worth $117,961,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Valeo Financial Advisors LLC lifted its holdings in American Tower by 77.7% during the 1st quarter. Valeo Financial Advisors LLC now owns 9,296 shares of the real estate investment trust's stock worth $2,023,000 after buying an additional 4,066 shares during the last quarter. Navalign LLC lifted its holdings in shares of American Tower by 1.7% in the 1st quarter. Navalign LLC now owns 4,767 shares of the real estate investment trust's stock worth $1,037,000 after purchasing an additional 78 shares during the last quarter. Alpha Cubed Investments LLC lifted its holdings in shares of American Tower by 64.9% in the 1st quarter. Alpha Cubed Investments LLC now owns 199,629 shares of the real estate investment trust's stock worth $43,439,000 after purchasing an additional 78,536 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of American Tower by 10.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 63,031 shares of the real estate investment trust's stock worth $13,716,000 after purchasing an additional 6,025 shares during the last quarter. Finally, Callan Capital LLC bought a new stake in shares of American Tower in the 1st quarter worth approximately $232,000. Institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

AMT has been the topic of several recent research reports. Bank of America initiated coverage on American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price target on the stock. UBS Group raised their price target on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday. Raymond James Financial raised their target price on American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Royal Bank Of Canada raised 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. Finally, Wells Fargo & Company raised their target price on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $240.88.

American Tower Price Performance

Shares of AMT stock traded up $0.09 during mid-day trading on Tuesday, hitting $220.11. 84,325 shares of the stock traded hands, compared to its average volume of 2,495,841. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56. The firm has a market cap of $103.04 billion, a price-to-earnings ratio of 56.56, a price-to-earnings-growth ratio of 1.65 and a beta of 0.82. The company's 50-day simple moving average is $216.64 and its 200-day simple moving average is $205.32. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81.

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 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.34. The business had revenue of $2.56 billion during 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 company's revenue was down 9.6% compared to the same quarter last year. During the same period last year, the company posted $2.79 EPS. As a group, equities research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's dividend payout ratio is presently 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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