Oppenheimer & Co. Inc. Increases Stake in American Tower Corporation (NYSE:AMT)

Oppenheimer & Co. Inc. increased its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,075 shares of the real estate investment trust's stock after buying an additional 4,051 shares during the period. Oppenheimer & Co. Inc.'s holdings in American Tower were worth $11,114,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AMT. Minot DeBlois Advisors LLC purchased a new stake in shares of American Tower in the 4th quarter valued at approximately $29,000. Graney & King LLC purchased a new stake in shares of American Tower in the 4th quarter valued at approximately $32,000. Lowe Wealth Advisors LLC increased its position in shares of American Tower by 218.0% in the 1st 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. Crowley Wealth Management Inc. purchased a new stake in shares of American Tower in the 4th quarter valued at approximately $37,000. Finally, City Holding Co. purchased a new stake in shares of American Tower in the 1st quarter valued at approximately $39,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMT. Raymond James Financial increased their price objective on shares of American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. JMP Securities increased their price objective 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. Scotiabank increased their target price 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. Barclays increased their target price on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Finally, Bank of America started coverage on shares of American Tower in a research report on Monday, May 19th. They issued a "buy" rating and a $255.00 target price on the stock. Two 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. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $240.25.

American Tower Stock Up 1.9%

Shares of NYSE:AMT opened at $221.71 on Tuesday. The stock has a market cap of $103.79 billion, a P/E ratio of 57.00, a P/E/G ratio of 1.61 and a beta of 0.81. The firm has a fifty day moving average price of $215.73 and a 200 day moving average price of $203.40. 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 Corporation has a 1-year low of $172.51 and a 1-year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. The firm 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%. American Tower's quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.79 EPS. Sell-side analysts predict 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 will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio (DPR) is presently 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.

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