Private Advisor Group LLC Decreases Stake in American Tower Corporation (NYSE:AMT)

Private Advisor Group LLC lowered its position in American Tower Corporation (NYSE:AMT - Free Report) by 68.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,050 shares of the real estate investment trust's stock after selling 87,830 shares during the quarter. Private Advisor Group LLC's holdings in American Tower were worth $8,932,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its position in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after acquiring an additional 2,104 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of American Tower during the 4th quarter worth $235,000. Millstone Evans Group LLC acquired a new stake in American Tower in the fourth quarter worth about $129,000. Quantbot Technologies LP raised its position in American Tower by 129.4% during the fourth quarter. Quantbot Technologies LP now owns 18,182 shares of the real estate investment trust's stock valued at $3,335,000 after acquiring an additional 10,256 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of American Tower in the fourth quarter valued at approximately $1,767,000. 92.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AMT shares. UBS Group boosted their target price on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley started coverage on American Tower in a research report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price objective for the company. 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. Bank of America began coverage on American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 target price for the company. Finally, Raymond James Financial raised their price objective on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $240.88.

American Tower Trading Up 0.7%

Shares of NYSE:AMT traded up $1.63 during trading on Monday, reaching $226.40. The company's stock had a trading volume of 1,458,773 shares, compared to its average volume of 2,503,151. The firm's 50 day simple moving average is $216.53 and its two-hundred day simple moving average is $207.73. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The stock has a market capitalization of $105.99 billion, a PE ratio of 58.20, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last issued its 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 company had revenue of $2.56 billion for 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%. The firm's revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.79 earnings per share. On average, research analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were given 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 3.00%. American Tower's dividend payout ratio (DPR) 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.