American Tower Corporation (NYSE:AMT) Shares Sold by Graham Capital Wealth Management LLC

Key Points

• Graham Capital Wealth Management LLC sold 2,652 shares of American Tower Corporation, reducing its holdings by 18.6%, with American Tower now constituting 2.9% of its portfolio.
• American Tower's share price has a 1-year range of $172.51 to $243.56, with a current market cap of $107.55 billion and a PE ratio of 59.06.
• Analysts remain optimistic about American Tower, with a consensus target price of $242.31 and 14 out of 19 analysts recommending a buy rating.

Graham Capital Wealth Management LLC decreased its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 18.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 11,622 shares of the real estate investment trust's stock after selling 2,652 shares during the period. American Tower makes up approximately 2.9% of Graham Capital Wealth Management LLC's investment portfolio, making the stock its 15th largest holding. Graham Capital Wealth Management LLC's holdings in American Tower were worth $2,529,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AMT. North Capital Inc. purchased a new stake in American Tower in the first quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in American Tower in the first quarter valued at approximately $31,000. Lowe Wealth Advisors LLC boosted its position in American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 109 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new position in American Tower in the fourth quarter valued at approximately $29,000. Finally, City Holding Co. acquired a new position in American Tower in the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Price Performance

NYSE AMT traded up $0.39 during mid-day trading on Thursday, hitting $209.13. The stock had a trading volume of 1,154,048 shares, compared to its average volume of 2,618,534. The firm's 50 day moving average is $218.76 and its 200 day moving average is $209.88. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.81. The stock has a market capitalization of $97.90 billion, a price-to-earnings ratio of 75.97, a PEG ratio of 1.18 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the company earned $2.79 EPS. The firm's revenue was down 9.4% compared to the same quarter last year. Equities research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.25%. The ex-dividend date was Friday, June 13th. American Tower's dividend payout ratio is currently 174.81%.

Analyst Ratings Changes

A number of brokerages have issued reports on AMT. JMP Securities boosted their price target on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. HSBC downgraded American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target for the company. in a report on Wednesday. Hsbc Global Res downgraded American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a report on Tuesday. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $243.59.

About American Tower

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.