Kingsview Wealth Management LLC decreased its stake in American Tower Corporation (NYSE:AMT - Free Report) by 72.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,292 shares of the real estate investment trust's stock after selling 123,617 shares during the period. Kingsview Wealth Management LLC's holdings in American Tower were worth $10,291,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC lifted 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 valued at $727,000 after buying an additional 2,104 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of American Tower during the 4th quarter valued at approximately $235,000. PDS Planning Inc lifted its stake in shares of American Tower by 10.1% during the 4th quarter. PDS Planning Inc now owns 2,602 shares of the real estate investment trust's stock valued at $477,000 after buying an additional 239 shares in the last quarter. Horizon Investments LLC lifted its stake in shares of American Tower by 2.2% during the 4th quarter. Horizon Investments LLC now owns 13,137 shares of the real estate investment trust's stock valued at $2,409,000 after buying an additional 284 shares in the last quarter. Finally, Evoke Wealth LLC lifted its stake in shares of American Tower by 6.9% during the 4th quarter. Evoke Wealth LLC now owns 1,472 shares of the real estate investment trust's stock valued at $272,000 after buying an additional 95 shares in the last quarter. Institutional investors own 92.69% of the company's stock.
American Tower Trading Up 0.8%
Shares of AMT stock traded up $1.83 on Friday, hitting $224.87. 1,253,822 shares of the company's stock traded hands, compared to its average volume of 2,499,878. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56. The company's fifty day simple moving average is $216.43 and its 200 day simple moving average is $207.09. The stock has a market capitalization of $105.27 billion, a price-to-earnings ratio of 57.81, a P/E/G ratio of 1.66 and a beta of 0.82.
American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.34. The business had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The firm's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.79 EPS. Equities analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.
American Tower Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 13th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.02%. American Tower's payout ratio is currently 174.81%.
Wall Street Analysts Forecast Growth
AMT has been the topic of a number of recent research reports. UBS Group upped their price target on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. 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 target price on the stock. Scotiabank increased 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 note on Wednesday, April 30th. Bank of America assumed coverage on shares of American Tower in a research note on Monday, May 19th. They issued a "buy" rating and a $255.00 target price on the stock. Finally, Royal Bank Of Canada increased their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Two equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $240.88.
Check Out Our Latest Report on AMT
American Tower Profile
(
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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