American Tower Corporation (NYSE:AMT) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC trimmed its position in American Tower Corporation (NYSE:AMT - Free Report) by 60.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 882 shares of the real estate investment trust's stock after selling 1,343 shares during the quarter. Avior Wealth Management LLC's holdings in American Tower were worth $192,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in American Tower during the fourth quarter valued at approximately $1,164,851,000. Cohen & Steers Inc. raised its stake in shares of American Tower by 21.8% in the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock valued at $3,516,890,000 after acquiring an additional 3,437,602 shares during the period. Capital Research Global Investors raised its stake in shares of American Tower by 66.5% in the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock valued at $1,570,547,000 after acquiring an additional 3,421,413 shares during the period. Capital World Investors lifted its holdings in shares of American Tower by 160.6% during the 4th quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust's stock valued at $902,396,000 after acquiring an additional 3,032,005 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in American Tower by 23,627.3% during the 1st quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust's stock worth $370,346,000 after purchasing an additional 1,694,784 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. JMP Securities boosted their price objective 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. Barclays raised their target price on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. UBS Group boosted their price target on American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Wells Fargo & Company increased their price objective on shares of American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, Citigroup lifted their price objective on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of "Buy" and an average price target of $240.25.

American Tower Stock Down 1.6%

Shares of AMT traded down $3.57 during midday trading on Wednesday, hitting $220.34. The company had a trading volume of 1,727,255 shares, compared to its average volume of 2,495,905. The stock has a market cap of $103.15 billion, a price-to-earnings ratio of 56.64, a PEG ratio of 1.66 and a beta of 0.81. The company's 50 day moving average price is $215.90 and its 200 day moving average price is $203.66. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.43. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share 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 analyst estimates of $2.54 billion. During the same period in the previous year, the company earned $2.79 earnings per share. American Tower's quarterly revenue was down 9.6% on a year-over-year basis. On average, equities research analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given 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 is Friday, June 13th. American Tower's dividend payout ratio is currently 174.81%.

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.