BIP Wealth LLC Trims Stake in American Tower Corporation (NYSE:AMT)

BIP Wealth LLC lessened its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 21.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,705 shares of the real estate investment trust's stock after selling 1,303 shares during the period. BIP Wealth LLC's holdings in American Tower were worth $1,024,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Partners Group Holding AG lifted 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 worth $69,438,000 after acquiring an additional 28,988 shares during the last quarter. Aviva PLC increased its position in American Tower by 13.4% during the 4th quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock worth $71,252,000 after purchasing an additional 46,009 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of American Tower by 23.0% during the 1st 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. lifted its stake in American Tower by 3.5% during the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock worth $913,000 after purchasing an additional 141 shares during the last quarter. Finally, Mariner LLC increased its holdings in shares of American Tower by 30.9% during the fourth quarter. Mariner LLC now owns 363,088 shares of the real estate investment trust's stock valued at $66,585,000 after purchasing an additional 85,693 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMT. UBS Group upped their price target on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada increased their target price on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Scotiabank lifted their target price 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. JMP Securities lifted their target price 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. Finally, Wells Fargo & Company boosted their price target on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. 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, American Tower presently has a consensus rating of "Buy" and an average price target of $240.88.

American Tower Price Performance

American Tower stock traded down $0.09 during midday trading on Thursday, hitting $223.27. 1,522,420 shares of the company's stock were exchanged, compared to its average volume of 2,501,895. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $243.56. The stock has a 50-day moving average price of $216.32 and a two-hundred day moving average price of $206.81. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $104.52 billion, a P/E ratio of 57.40, a PEG ratio of 1.62 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.34. The firm 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 quarter in the previous year, the company posted $2.79 earnings per share. On average, equities research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 13th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Friday, June 13th. American Tower's payout ratio is 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.