U.S. Capital Wealth Advisors LLC Sells 4,205 Shares of American Tower Corporation (NYSE:AMT)

U.S. Capital Wealth Advisors LLC trimmed its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 41.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,879 shares of the real estate investment trust's stock after selling 4,205 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in American Tower were worth $1,279,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AMT. North Capital Inc. acquired a new stake in shares of American Tower in the 1st quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in American Tower in the first quarter worth approximately $31,000. Lowe Wealth Advisors LLC boosted its stake in 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 valued at $35,000 after purchasing an additional 109 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower during the 4th quarter valued at $29,000. Finally, Graney & King LLC bought a new position in American Tower during the fourth quarter valued at about $32,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Down 0.3%

NYSE:AMT traded down $0.70 during mid-day trading on Thursday, reaching $221.13. The stock had a trading volume of 1,459,191 shares, compared to its average volume of 2,503,683. The stock has a market cap of $103.52 billion, a P/E ratio of 56.85, a PEG ratio of 1.64 and a beta of 0.82. The business's 50 day moving average is $216.55 and its 200 day moving average is $205.54. 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 Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56.

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, topping analysts' consensus estimates of $2.41 by $0.34. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The firm had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same period in the prior year, the company posted $2.79 earnings per share. American Tower's revenue for the quarter was down 9.6% on a year-over-year basis. As a group, sell-side analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.08%. American Tower's payout ratio is currently 174.81%.

Analyst Ratings Changes

A number of brokerages have weighed in on AMT. Scotiabank upped their price target on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Morgan Stanley initiated coverage on American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price target on the stock. UBS Group raised their price objective on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday. Bank of America assumed 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 lifted their price target on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, 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.