John G Ullman & Associates Inc. Buys 6,852 Shares of American Tower Corporation (NYSE:AMT)

John G Ullman & Associates Inc. lifted its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 14.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,132 shares of the real estate investment trust's stock after buying an additional 6,852 shares during the period. American Tower makes up about 1.8% of John G Ullman & Associates Inc.'s holdings, making the stock its 14th biggest holding. John G Ullman & Associates Inc.'s holdings in American Tower were worth $11,562,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AMT. North Capital Inc. bought a new position in American Tower in the first quarter worth about $25,000. Minot DeBlois Advisors LLC bought a new stake in shares of American Tower during the fourth quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of American Tower during the first quarter valued at approximately $31,000. Graney & King LLC bought a new stake in shares of American Tower during the fourth quarter valued at approximately $32,000. Finally, Lowe Wealth Advisors LLC raised its holdings in shares of American Tower by 218.0% during the first 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 during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

NYSE AMT traded down $1.49 on Friday, reaching $229.75. The company's stock had a trading volume of 1,031,210 shares, compared to its average volume of 1,726,093. The firm has a market cap of $107.55 billion, a PE ratio of 59.06, a price-to-earnings-growth ratio of 1.27 and a beta of 0.82. The business has a 50-day moving average price of $218.70 and a 200 day moving average price of $209.08. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. 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 (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, beating analysts' consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.79 earnings per share. Sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 2.96%. American Tower's dividend payout ratio (DPR) is currently 174.81%.

Analysts Set New Price Targets

AMT has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target on the stock. Wells Fargo & Company boosted their target price on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Bank of America initiated coverage on American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 target price on the stock. Raymond James Financial boosted their target price on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Finally, UBS Group lifted their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Two 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. According to data from MarketBeat.com, American Tower presently has an average rating of "Buy" and a consensus target price of $242.31.

About American Tower

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.