Catalyst Capital Advisors LLC Acquires New Holdings in American Tower Corporation (NYSE:AMT)

Catalyst Capital Advisors LLC purchased a new position in American Tower Corporation (NYSE:AMT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,580 shares of the real estate investment trust's stock, valued at approximately $344,000.

Several other institutional investors have also added to or reduced their stakes in the business. Cohen & Steers Inc. boosted its holdings in American Tower by 21.8% in the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after acquiring an additional 3,437,602 shares in the last quarter. Geode Capital Management LLC boosted its holdings in American Tower by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock worth $2,074,956,000 after acquiring an additional 129,192 shares in the last quarter. FMR LLC boosted its holdings in American Tower by 5.0% in the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock worth $2,050,390,000 after acquiring an additional 537,136 shares in the last quarter. Capital Research Global Investors raised its stake in shares of American Tower by 66.5% in the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after purchasing an additional 3,421,413 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of American Tower in the fourth quarter worth about $1,164,851,000. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Down 0.5%

Shares of AMT opened at $221.75 on Friday. 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 Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The stock's 50 day moving average is $216.46 and its two-hundred day moving average is $204.75. The firm has a market cap of $103.81 billion, a P/E ratio of 57.00, a PEG ratio of 1.65 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS 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 company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the company earned $2.79 earnings per share. American Tower's quarterly revenue was down 9.6% compared to the same quarter last year. Analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.07%. The ex-dividend date is Friday, June 13th. American Tower's payout ratio is currently 174.81%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Bank of America assumed coverage on American Tower in a research note on Monday, May 19th. They issued a "buy" rating and a $255.00 price objective for the company. UBS Group raised their price objective on American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Raymond James Financial raised their price objective on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, JMP Securities raised 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. 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. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $240.25.

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.

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