American Tower Corporation (NYSE:AMT) Stake Boosted by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 11.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 280,745 shares of the real estate investment trust's stock after purchasing an additional 28,234 shares during the period. Nisa Investment Advisors LLC owned approximately 0.06% of American Tower worth $61,090,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. North Capital Inc. acquired a new position in American Tower during the first quarter worth about $25,000. Minot DeBlois Advisors LLC acquired a new position in American Tower during the fourth quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in American Tower during the first quarter worth about $31,000. Graney & King LLC acquired a new position in American Tower during the fourth quarter worth about $32,000. Finally, Lowe Wealth Advisors LLC grew its position in shares of American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 109 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on AMT shares. JMP Securities increased 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 report on Wednesday, April 30th. Royal Bank Of Canada raised their price objective on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. UBS Group increased their target price on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday. Scotiabank raised their price objective 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. Finally, Raymond James Financial raised their price objective on American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $240.88.

American Tower Stock Down 0.9%

NYSE:AMT traded down $1.96 during mid-day trading on Friday, reaching $219.05. The stock had a trading volume of 1,358,450 shares, compared to its average volume of 2,504,864. The company has a market capitalization of $102.55 billion, a price-to-earnings ratio of 56.31, a price-to-earnings-growth ratio of 1.63 and a beta of 0.82. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56. The stock's 50 day simple moving average is $216.39 and its two-hundred day simple moving average is $206.17. 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 (NYSE:AMT - Get Free Report) last issued its earnings results 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. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the firm posted $2.79 earnings per share. American Tower's quarterly revenue was down 9.6% compared to the same quarter last year. Equities analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were issued a dividend of $1.70 per share. The ex-dividend date was Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.10%. American Tower's payout ratio is 174.81%.

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.