Slow Capital Inc. Purchases 14,156 Shares of American Tower Corporation (NYSE:AMT)

Slow Capital Inc. increased its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 98.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,573 shares of the real estate investment trust's stock after purchasing an additional 14,156 shares during the period. Slow Capital Inc.'s holdings in American Tower were worth $6,217,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Elmwood Wealth Management Inc. grew its holdings in shares of American Tower by 2.5% during the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock valued at $454,000 after buying an additional 50 shares during the last quarter. 4J Wealth Management LLC increased its holdings in American Tower by 4.0% during the 1st 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 in the last quarter. Coyle Financial Counsel LLC raised its stake in shares of 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 last quarter. Glenview Trust co lifted its holdings in shares of American Tower by 0.8% in the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock valued at $1,294,000 after purchasing an additional 54 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in American Tower by 2.1% during the fourth 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. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMT. UBS Group lifted their price objective on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. JMP Securities upped their price objective 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. Royal Bank Of Canada lifted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Bank of America started coverage on shares of American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price target on the stock. Finally, Morgan Stanley started coverage on American Tower in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price for the company. Two equities 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 stock. Based on data from MarketBeat, American Tower has an average rating of "Buy" and an average target price of $240.88.

American Tower Price Performance

NYSE:AMT traded up $2.54 during mid-day trading on Monday, reaching $221.78. The stock had a trading volume of 1,475,860 shares, compared to its average volume of 2,677,865. The stock has a market capitalization of $103.82 billion, a P/E ratio of 57.01, a P/E/G ratio of 1.62 and a beta of 0.82. The firm has a 50 day moving average price of $216.39 and a two-hundred day moving average price of $206.33. 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 released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating the consensus estimate of $2.41 by $0.34. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.79 EPS. As a group, analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors 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 annualized dividend and a yield of 3.07%. American Tower's payout ratio is 174.81%.

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.