Cambridge Investment Research Advisors Inc. Has $9.36 Million Stock Position in American Tower Corporation (NYSE:AMT)

Cambridge Investment Research Advisors Inc. boosted its stake in American Tower Corporation (NYSE:AMT - Free Report) by 7.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,998 shares of the real estate investment trust's stock after purchasing an additional 2,895 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in American Tower were worth $9,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AMT. Minot DeBlois Advisors LLC bought a new stake in shares of American Tower during the 4th quarter worth approximately $29,000. Graney & King LLC bought a new stake in American Tower during the fourth quarter worth $32,000. Lowe Wealth Advisors LLC boosted its holdings in shares of American Tower by 218.0% in the 1st 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 in the last quarter. Crowley Wealth Management Inc. acquired a new stake in shares of American Tower in the 4th quarter valued at $37,000. Finally, City Holding Co. acquired a new position in shares of American Tower during the 1st quarter worth $39,000. Institutional investors own 92.69% of the company's stock.

American Tower Trading Down 1.6%

NYSE AMT opened at $220.34 on Thursday. The stock has a market capitalization of $103.15 billion, a P/E ratio of 56.64, a P/E/G ratio of 1.66 and a beta of 0.81. The business has a 50 day simple moving average of $215.90 and a 200 day simple moving average of $203.66. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations 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 for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.79 EPS. Research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be paid a $1.70 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.09%. American Tower's dividend payout ratio (DPR) is presently 174.81%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Bank of America started coverage on shares of American Tower in a research note on Monday, May 19th. They issued a "buy" rating and a $255.00 price target on the stock. JMP Securities lifted their price target on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. Barclays increased their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Finally, Morgan Stanley began coverage on shares of American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price on the stock. Two 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 company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $240.25.

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.

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