American Tower Corporation (NYSE:AMT) Shares Purchased by Lincluden Management Ltd.

Lincluden Management Ltd. grew its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 97.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 40,576 shares of the real estate investment trust's stock after buying an additional 20,034 shares during the period. American Tower accounts for approximately 1.1% of Lincluden Management Ltd.'s portfolio, making the stock its 21st largest position. Lincluden Management Ltd.'s holdings in American Tower were worth $8,829,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AMT. Brighton Jones LLC grew its position in shares of American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after purchasing an additional 2,104 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of American Tower in the 4th quarter worth about $235,000. LPL Financial LLC grew its position in shares of American Tower by 3.4% during the 4th quarter. LPL Financial LLC now owns 368,499 shares of the real estate investment trust's stock valued at $67,586,000 after buying an additional 12,271 shares during the last quarter. Congress Wealth Management LLC DE grew its position in shares of American Tower by 7.3% during the 4th quarter. Congress Wealth Management LLC DE now owns 8,726 shares of the real estate investment trust's stock valued at $1,601,000 after buying an additional 597 shares during the last quarter. Finally, Modern Wealth Management LLC acquired a new stake in shares of American Tower in the 4th quarter worth approximately $918,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of NYSE AMT traded down $1.49 during trading on Friday, hitting $229.75. The company had a trading volume of 1,031,210 shares, compared to its average volume of 1,726,093. The stock has a 50 day simple moving average of $218.70 and a 200 day simple moving average of $209.08. The firm has a market capitalization of $107.55 billion, a P/E ratio of 59.06, a price-to-earnings-growth ratio of 1.27 and a beta of 0.82. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. 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 (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The firm had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter in the previous year, the business earned $2.79 EPS. The company's quarterly revenue was down 9.6% on a year-over-year basis. As a group, analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Friday, June 13th. American Tower's payout ratio is 174.81%.

Analyst Upgrades and Downgrades

AMT has been the subject of several research analyst reports. Scotiabank upped their price target on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. JMP Securities lifted their price target on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research note on Wednesday, April 30th. Morgan Stanley began coverage on shares of American Tower in a research report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price objective for the company. Barclays increased their target price on shares of American Tower from $223.00 to $246.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, UBS Group raised their price objective on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, American Tower currently has an average rating of "Buy" and a consensus target price of $242.31.

American Tower Company 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.