Financial Counselors Inc. Sells 14,217 Shares of American Tower Corporation (NYSE:AMT)

Financial Counselors Inc. lowered its stake in American Tower Corporation (NYSE:AMT - Free Report) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,376 shares of the real estate investment trust's stock after selling 14,217 shares during the quarter. Financial Counselors Inc.'s holdings in American Tower were worth $24,671,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. North Capital Inc. acquired a new position in American Tower in the 1st quarter valued at approximately $25,000. Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower in the fourth quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of American Tower in the first quarter worth about $31,000. Graney & King LLC acquired a new stake in shares of American Tower in the fourth quarter worth about $32,000. Finally, Lowe Wealth Advisors LLC lifted its position in shares of American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after buying an additional 109 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of AMT stock traded up $0.62 during trading hours on Tuesday, hitting $220.64. The company had a trading volume of 2,022,592 shares, compared to its average volume of 2,507,318. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The firm has a market capitalization of $103.29 billion, a price-to-earnings ratio of 56.72, a PEG ratio of 1.63 and a beta of 0.82. The firm's fifty day moving average is $216.64 and its 200 day 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 issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the company posted $2.79 EPS. The business's revenue for the quarter was down 9.6% compared to the same quarter last year. On average, sell-side analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.08%. American Tower's dividend payout ratio (DPR) is currently 174.81%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. 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. Citigroup increased their target price on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Wells Fargo & Company lifted their price target on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Scotiabank increased their price objective 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. Finally, 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 note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower currently has an average rating of "Buy" and an average price target of $240.88.

American Tower Company 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.