Stratos Wealth Partners LTD. Reduces Holdings in American Tower Corporation (NYSE:AMT)

Stratos Wealth Partners LTD. lowered its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 11.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,551 shares of the real estate investment trust's stock after selling 1,513 shares during the period. Stratos Wealth Partners LTD.'s holdings in American Tower were worth $2,514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. North Capital Inc. acquired a new position in shares of American Tower during the 1st quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower during the 1st quarter worth approximately $31,000. Lowe Wealth Advisors LLC increased its position in shares of American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 109 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower during the 4th quarter worth approximately $29,000. Finally, Graney & King LLC acquired a new position in shares of American Tower during the 4th quarter worth approximately $32,000. Institutional investors own 92.69% of the company's stock.

American Tower Trading Down 0.9%

Shares of NYSE:AMT traded down $1.96 during trading on Friday, reaching $219.05. 1,358,450 shares of the company were exchanged, compared to its average volume of 2,503,799. The firm has a market capitalization of $102.55 billion, a PE ratio of 56.31, a P/E/G ratio of 1.64 and a beta of 0.82. The business's fifty day simple moving average is $216.48 and its 200-day simple moving average is $205.79. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (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 company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the company posted $2.79 earnings per share. American Tower's revenue was down 9.6% compared to the same quarter last year. On average, research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be given a $1.70 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.10%. American Tower's dividend payout ratio (DPR) is currently 174.81%.

Analysts Set New Price Targets

AMT has been the topic of a number of recent analyst reports. Bank of America initiated coverage on American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 target price on the stock. JMP Securities boosted their target price on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 30th. Wells Fargo & Company boosted their price target on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada boosted their price target on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Morgan Stanley assumed coverage on American Tower in a research note on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price target for the company. 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 stock. According to MarketBeat.com, the company currently 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.