Signaturefd LLC Acquires 1,536 Shares of American Tower Corporation (NYSE:AMT)

Signaturefd LLC raised its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 23.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,001 shares of the real estate investment trust's stock after buying an additional 1,536 shares during the quarter. Signaturefd LLC's holdings in American Tower were worth $1,741,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Elmwood Wealth Management Inc. boosted its stake in American Tower by 2.5% in the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock worth $454,000 after purchasing an additional 50 shares during the period. 4J Wealth Management LLC increased its stake in American Tower by 4.0% in the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock worth $283,000 after purchasing an additional 50 shares during the period. Coyle Financial Counsel LLC increased its stake in American Tower by 2.4% in the first quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock worth $487,000 after purchasing an additional 53 shares during the period. Glenview Trust co grew its position 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 buying an additional 54 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its position in shares of American Tower by 2.1% during the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock worth $477,000 after buying an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

Shares of NYSE:AMT traded up $1.20 during trading on Friday, hitting $224.24. 721,297 shares of the company traded hands, compared to its average volume of 2,645,920. The stock has a market capitalization of $104.97 billion, a price-to-earnings ratio of 57.64, a PEG ratio of 1.66 and a beta of 0.82. The business's fifty day moving average is $216.43 and its 200-day moving average is $207.09. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.43.

American Tower (NYSE:AMT - Get Free Report) last released 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 firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The firm's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.79 earnings per share. As a group, equities analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 13th were issued a $1.70 dividend. The ex-dividend date was Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.03%. American Tower's dividend payout ratio is currently 174.81%.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent analyst reports. JMP Securities raised their price target on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 30th. Bank of America initiated coverage on American Tower in a research note on Monday, May 19th. They issued a "buy" rating and a $255.00 price target on the stock. Scotiabank boosted their price objective on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 30th. Barclays lifted their target price on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Finally, UBS Group lifted their target price on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Two research 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 company. Based on data from MarketBeat.com, American Tower presently has a consensus rating of "Buy" and an average price target 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.