Oppenheimer & Co. Inc. Purchases 4,051 Shares of American Tower Corporation (NYSE:AMT)

Oppenheimer & Co. Inc. lifted its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 8.6% during the 1st quarter, according to its most recent disclosure with the SEC. 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AMT. Glenview Trust co lifted its stake in shares of American Tower by 0.8% during the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock worth $1,294,000 after purchasing an additional 54 shares during the period. CreativeOne Wealth LLC increased its stake in American Tower by 2.1% in the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock valued at $477,000 after purchasing an additional 54 shares during the last quarter. Fortitude Advisory Group L.L.C. lifted its position in American Tower by 2.9% during the first quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock worth $416,000 after buying an additional 54 shares during the period. Veracity Capital LLC boosted its stake in American Tower by 4.7% in the 1st quarter. Veracity Capital LLC now owns 1,237 shares of the real estate investment trust's stock worth $269,000 after buying an additional 56 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC grew its holdings in American Tower by 1.1% in the 4th quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust's stock valued at $978,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

Shares of American Tower stock traded up $0.54 during trading on Friday, reaching $218.06. The company's stock had a trading volume of 2,084,484 shares, compared to its average volume of 2,495,116. The firm has a market cap of $102.08 billion, a price-to-earnings ratio of 56.06, a price-to-earnings-growth ratio of 1.63 and a beta of 0.81. The business's fifty day moving average price is $215.79 and its 200-day moving average price is $203.72. 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 Corporation has a one year low of $172.51 and a one year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $2.54 billion. During the same period in the prior year, the business earned $2.79 earnings per share. American Tower's revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, equities research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.12%. American Tower's payout ratio is currently 174.81%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AMT shares. Morgan Stanley started coverage on shares of American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price objective on the stock. Hsbc Global Res raised American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Royal Bank Of Canada boosted their target price on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. JMP Securities increased their target price on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 30th. Finally, Barclays lifted their price target 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. Two 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 stock. According to MarketBeat.com, American Tower has an average rating of "Buy" and an average price target of $240.25.

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.