American Tower Co. (NYSE:AMT) Shares Acquired by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC lifted its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,963 shares of the real estate investment trust's stock after purchasing an additional 1,325 shares during the quarter. Harbor Investment Advisory LLC's holdings in American Tower were worth $3,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new stake in American Tower in the 4th quarter valued at $29,000. Roxbury Financial LLC purchased a new stake in American Tower in the 4th quarter valued at about $32,000. Graney & King LLC purchased a new stake in American Tower in the 4th quarter valued at about $32,000. Lowe Wealth Advisors LLC raised its holdings in American Tower by 218.0% in the 1st 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 period. Finally, Crowley Wealth Management Inc. purchased a new stake in American Tower during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Trading Up 0.7%

AMT traded up $1.48 during midday trading on Thursday, hitting $215.84. The company's stock had a trading volume of 1,144,401 shares, compared to its average volume of 2,491,199. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $101.04 billion, a P/E ratio of 91.07, a PEG ratio of 1.29 and a beta of 0.82. The firm has a 50-day moving average price of $215.26 and a two-hundred day moving average price of $202.58. American Tower Co. 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 quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the business earned $2.79 EPS. The business's quarterly revenue was down 9.6% on a year-over-year basis. On average, research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's dividend payout ratio is presently 174.81%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Hsbc Global Res raised American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Bank of America began coverage on shares of American Tower in a research note on Monday, May 19th. They issued a "buy" rating and a $255.00 price target on the stock. Citigroup increased their price target on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Morgan Stanley assumed coverage on shares of American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price target on the stock. Finally, Scotiabank raised their target price on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average 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.