Kingswood Wealth Advisors LLC Sells 3,012 Shares of American Tower Corporation (NYSE:AMT)

Kingswood Wealth Advisors LLC trimmed its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 51.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,786 shares of the real estate investment trust's stock after selling 3,012 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in American Tower were worth $607,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Cohen & Steers Inc. grew its stake in American Tower by 21.8% during the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after buying an additional 3,437,602 shares in the last quarter. Geode Capital Management LLC boosted its position in American Tower by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock worth $2,074,956,000 after buying an additional 129,192 shares during the period. FMR LLC raised its holdings in American Tower by 5.0% during the 4th quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock worth $2,050,390,000 after purchasing an additional 537,136 shares during the last quarter. Capital Research Global Investors raised its holdings in American Tower by 66.5% during the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after purchasing an additional 3,421,413 shares during the last quarter. Finally, Norges Bank bought a new position in American Tower during the 4th quarter worth approximately $1,164,851,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of American Tower stock traded up $1.75 on Friday, reaching $217.23. The stock had a trading volume of 4,018,525 shares, compared to its average volume of 2,492,242. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $243.56. The company has a market cap of $101.70 billion, a P/E ratio of 55.84, a price-to-earnings-growth ratio of 1.61 and a beta of 0.81. 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 business's 50 day moving average is $215.65 and its two-hundred day moving average is $203.34.

American Tower (NYSE:AMT - Get Free Report) last announced its 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. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. American Tower's quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the firm posted $2.79 earnings per share. As a group, research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

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

Analysts Set New Price Targets

AMT has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Citigroup lifted their price objective on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Bank of America initiated coverage on shares of American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 price target for the company. Finally, UBS Group increased their price target on shares of American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. 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 company. According to data from MarketBeat.com, the company currently 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.