American Tower Corporation (NYSE:AMT) Shares Sold by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. lowered its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 93,850 shares of the real estate investment trust's stock after selling 1,542 shares during the quarter. American Tower accounts for about 1.3% of Financiere des Professionnels Fonds d investissement inc.'s holdings, making the stock its 17th biggest position. Financiere des Professionnels Fonds d investissement inc.'s holdings in American Tower were worth $20,422,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AMT. Brighton Jones LLC raised its stake in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after buying an additional 2,104 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of American Tower by 3.9% during the 4th quarter. Victory Capital Management Inc. now owns 173,053 shares of the real estate investment trust's stock worth $31,740,000 after buying an additional 6,453 shares during the last quarter. Assetmark Inc. raised its stake in shares of American Tower by 524.8% during the 4th quarter. Assetmark Inc. now owns 14,770 shares of the real estate investment trust's stock worth $2,709,000 after buying an additional 12,406 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of American Tower during the 4th quarter worth $235,000. Finally, Dana Investment Advisors Inc. raised its stake in shares of American Tower by 5.1% during the 4th quarter. Dana Investment Advisors Inc. now owns 11,698 shares of the real estate investment trust's stock worth $2,146,000 after buying an additional 563 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AMT shares. Wells Fargo & Company lifted their price target on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Scotiabank lifted their price objective 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. Barclays lifted their price objective on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Bank of America initiated coverage on American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 price objective for the company. Finally, Royal Bank Of Canada lifted their price objective on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $240.88.

American Tower Trading Up 0.3%

AMT traded up $0.62 during midday trading on Tuesday, hitting $220.64. The company's stock had a trading volume of 2,022,592 shares, compared to its average volume of 2,507,318. 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 firm has a market cap of $103.29 billion, a P/E ratio of 56.72, a PEG ratio of 1.63 and a beta of 0.82. The firm has a 50-day moving average price of $216.64 and a two-hundred day moving average price of $205.32. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last issued its 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. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The business had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter in the previous year, the business earned $2.79 EPS. The company's revenue for the quarter was down 9.6% on a year-over-year basis. On average, research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's payout ratio is currently 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.