Los Angeles Capital Management LLC Acquires 1,389 Shares of American Tower Corporation (NYSE:AMT)

Los Angeles Capital Management LLC raised its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 210,990 shares of the real estate investment trust's stock after acquiring an additional 1,389 shares during the quarter. Los Angeles Capital Management LLC's holdings in American Tower were worth $45,911,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AMT. North Capital Inc. purchased a new position in American Tower in the 1st quarter worth approximately $25,000. Minot DeBlois Advisors LLC bought a new stake in American Tower in the 4th quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of American Tower during the 1st quarter valued at $31,000. Graney & King LLC bought a new stake in shares of American Tower during the 4th quarter valued at $32,000. Finally, Lowe Wealth Advisors LLC grew its position in shares of American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 109 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Trading Up 0.8%

Shares of American Tower stock opened at $224.87 on Friday. The company has a fifty day simple moving average of $216.53 and a 200-day simple moving average of $207.55. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56. 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 stock has a market cap of $105.27 billion, a price-to-earnings ratio of 57.81, a PEG ratio of 1.67 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $2.56 billion during 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 quarter in the prior year, the firm earned $2.79 EPS. On average, equities analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were paid a dividend of $1.70 per share. The ex-dividend date was Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.02%. American Tower's dividend payout ratio is currently 174.81%.

Wall Street Analysts Forecast Growth

AMT has been the topic of several recent research reports. Bank of America assumed coverage on shares of American Tower in a research report on Monday, May 19th. They set a "buy" rating and a $255.00 target price on the stock. Royal Bank Of Canada raised their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Morgan Stanley initiated coverage on shares of American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price for the company. JMP Securities lifted their target price on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. Finally, Scotiabank boosted their price target 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 analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $240.88.

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.

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