Somerville Kurt F bought a new stake in shares of American Tower Corporation (NYSE:AMT - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 1,705 shares of the real estate investment trust's stock, valued at approximately $371,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AMT. M. Kulyk & Associates LLC lifted its position in shares of American Tower by 0.9% during the first quarter. M. Kulyk & Associates LLC now owns 21,304 shares of the real estate investment trust's stock worth $4,636,000 after purchasing an additional 186 shares in the last quarter. Loudon Investment Management LLC lifted its holdings in American Tower by 9.7% in the 1st quarter. Loudon Investment Management LLC now owns 13,968 shares of the real estate investment trust's stock worth $3,039,000 after buying an additional 1,235 shares in the last quarter. Proficio Capital Partners LLC boosted its position in American Tower by 29.0% in the 1st quarter. Proficio Capital Partners LLC now owns 1,656 shares of the real estate investment trust's stock valued at $360,000 after buying an additional 372 shares during the last quarter. KLP Kapitalforvaltning AS grew its stake in shares of American Tower by 1.0% during the first quarter. KLP Kapitalforvaltning AS now owns 158,613 shares of the real estate investment trust's stock valued at $34,514,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Summit Asset Management LLC purchased a new stake in shares of American Tower during the first quarter worth about $233,000. 92.69% of the stock is owned by institutional investors and hedge funds.
American Tower Trading Up 0.5%
AMT stock traded up $1.12 during mid-day trading on Thursday, reaching $231.30. 2,034,696 shares of the stock traded hands, compared to its average volume of 1,726,359. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $243.56. The stock's fifty day moving average is $217.98 and its 200-day moving average is $208.36. The company has a market cap of $108.28 billion, a P/E ratio of 59.46, a P/E/G ratio of 1.27 and a beta of 0.82. 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 (NYSE:AMT - Get Free Report) last issued its quarterly 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. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the firm earned $2.79 EPS. The firm's quarterly revenue was down 9.6% on a year-over-year basis. As a group, sell-side analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.
American Tower Dividend Announcement
The firm 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. This represents a $6.80 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Friday, June 13th. American Tower's payout ratio is 174.81%.
Analyst Upgrades and Downgrades
AMT has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised their price objective on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Raymond James Financial raised their target price on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Wells Fargo & Company boosted their target price on shares of American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Barclays increased their price target on American Tower from $223.00 to $246.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, UBS Group lifted their price objective on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note 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, the stock presently has an average rating of "Buy" and an average target price of $242.31.
Read Our Latest Stock Analysis on American Tower
About American Tower
(
Free Report)
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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