Janney Capital Management LLC Buys 7,900 Shares of American Tower Corporation (NYSE:AMT)

Janney Capital Management LLC lifted its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 19.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,279 shares of the real estate investment trust's stock after buying an additional 7,900 shares during the quarter. Janney Capital Management LLC's holdings in American Tower were worth $10,723,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Minot DeBlois Advisors LLC bought a new position in shares of American Tower in the fourth quarter worth $29,000. Graney & King LLC acquired a new stake in American Tower during the fourth quarter worth about $32,000. Lowe Wealth Advisors LLC increased 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. Crowley Wealth Management Inc. acquired a new position in shares of American Tower in the 4th quarter valued at approximately $37,000. Finally, City Holding Co. bought a new stake in shares of American Tower during the 1st quarter worth approximately $39,000. Institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AMT shares. Citigroup upped their target price on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. UBS Group raised their price objective on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Scotiabank lifted their target price on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. BMO Capital Markets increased their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, Wells Fargo & Company lifted their price target on shares of American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a 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 issued a strong buy rating to the company. According to MarketBeat, American Tower has a consensus rating of "Buy" and a consensus target price of $240.25.

American Tower Trading Up 0.8%

Shares of American Tower stock traded up $1.78 during midday trading on Friday, reaching $217.26. The company had a trading volume of 987,427 shares, compared to its average volume of 2,480,622. The firm has a market cap of $101.71 billion, a PE ratio of 55.91, a P/E/G ratio of 1.60 and a beta of 0.81. The stock has a fifty day moving average price of $215.57 and a 200 day moving average price of $203.31. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week 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 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The company's quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.79 EPS. On average, equities analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's dividend payout ratio is 174.81%.

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.