American Tower Corporation (NYSE:AMT) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lessened its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 36.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,426 shares of the real estate investment trust's stock after selling 2,002 shares during the period. Concurrent Investment Advisors LLC's holdings in American Tower were worth $746,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Partners Group Holding AG boosted its holdings in shares of American Tower by 8.3% in the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock valued at $69,438,000 after acquiring an additional 28,988 shares during the last quarter. Aviva PLC boosted its holdings in shares of American Tower by 13.4% in the 4th quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock valued at $71,252,000 after acquiring an additional 46,009 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of American Tower by 23.0% in 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 acquiring an additional 69 shares during the last quarter. Shum Financial Group Inc. boosted its holdings in shares of American Tower by 3.5% in the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock valued at $913,000 after acquiring an additional 141 shares during the last quarter. Finally, Mariner LLC boosted its holdings in shares of American Tower by 30.9% in the 4th quarter. Mariner LLC now owns 363,088 shares of the real estate investment trust's stock valued at $66,585,000 after acquiring an additional 85,693 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on AMT shares. Raymond James Financial upped their price objective on shares of American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Royal Bank Of Canada upped their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Morgan Stanley began coverage on shares of American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective on the stock. Barclays boosted their target price 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, Scotiabank boosted their target price on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. Two equities research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $240.88.

American Tower Price Performance

NYSE:AMT traded down $1.96 during trading hours on Friday, reaching $219.05. 1,358,450 shares of the company were exchanged, compared to its average volume of 2,504,864. 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's 50-day moving average is $216.39 and its 200-day moving average is $206.17. The firm has a market cap of $102.55 billion, a PE ratio of 56.31, a price-to-earnings-growth ratio of 1.63 and a beta of 0.82. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.79 earnings per share. On average, sell-side analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, June 13th. American Tower's dividend payout ratio (DPR) is 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.