Brookstone Capital Management Decreases Stock Position in American Tower Corporation (NYSE:AMT)

Brookstone Capital Management lessened its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 17.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,363 shares of the real estate investment trust's stock after selling 1,516 shares during the period. Brookstone Capital Management's holdings in American Tower were worth $1,602,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. North Capital Inc. acquired a new position in shares of American Tower in the first quarter valued at approximately $25,000. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower in the fourth quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower in the first quarter valued at approximately $31,000. Graney & King LLC acquired a new position in shares of American Tower in the fourth quarter valued at approximately $32,000. Finally, Lowe Wealth Advisors LLC increased its holdings 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 valued at $35,000 after purchasing an additional 109 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AMT shares. Morgan Stanley assumed coverage on American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price on the stock. JMP Securities lifted their price target on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada lifted their price target on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. UBS Group lifted their price target on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Scotiabank boosted their target price on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $240.25.

American Tower Trading Down 0.9%

NYSE:AMT traded down $2.00 on Monday, hitting $219.75. 1,894,852 shares of the stock were exchanged, compared to its average volume of 2,505,262. The stock has a market cap of $102.87 billion, a PE ratio of 56.49, a PEG ratio of 1.65 and a beta of 0.82. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43. The stock has a fifty day moving average of $216.46 and a 200-day moving average of $205.07. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping the consensus estimate of $2.41 by $0.34. The company 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 firm's revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.79 earnings per share. As a group, equities analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business 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 yield of 3.09%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's dividend payout ratio (DPR) 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.