Creekmur Asset Management LLC purchased a new stake in shares of American Tower Corporation (NYSE:AMT - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,146 shares of the real estate investment trust's stock, valued at approximately $249,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMT. Partners Group Holding AG grew its stake 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 worth $69,438,000 after buying an additional 28,988 shares during the last quarter. Aviva PLC grew its stake 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 worth $71,252,000 after buying an additional 46,009 shares during the last quarter. Golden State Wealth Management LLC grew its stake 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 worth $80,000 after buying an additional 69 shares during the last quarter. Shum Financial Group Inc. grew its stake 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 worth $913,000 after buying an additional 141 shares during the last quarter. Finally, Mariner LLC grew its stake 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 worth $66,585,000 after buying an additional 85,693 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have commented on the company. JMP Securities increased their target price 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. UBS Group increased their price target on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada increased their price target on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Morgan Stanley started coverage on American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target on the stock. Finally, Raymond James Financial increased their price target on American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $240.88.
View Our Latest Analysis on American Tower
American Tower Trading Up 0.8%
NYSE AMT traded up $1.83 during trading hours on Friday, hitting $224.87. 1,253,822 shares of the company were exchanged, compared to its average volume of 2,507,346. The stock has a 50-day moving average price of $216.53 and a 200 day moving average price of $207.55. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.43. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. The stock has a market cap of $105.27 billion, a PE ratio of 57.81, a price-to-earnings-growth ratio of 1.67 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 analysts' consensus estimates 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%. American Tower's quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the company earned $2.79 EPS. Analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.
American Tower Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were given a $1.70 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.02%. American Tower's payout ratio is 174.81%.
About American Tower
(
Free Report)
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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