U.S. Capital Wealth Advisors LLC Trims Stake in American Tower Corporation (NYSE:AMT)

U.S. Capital Wealth Advisors LLC lowered its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 41.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Several other hedge funds have also bought and sold shares of the business. Cohen & Steers Inc. boosted its stake in American Tower by 21.8% during the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after acquiring an additional 3,437,602 shares in the last quarter. Geode Capital Management LLC raised its holdings in American Tower by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock worth $2,074,956,000 after buying an additional 129,192 shares during the last quarter. FMR LLC raised its holdings in American Tower by 5.0% in the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock worth $2,050,390,000 after buying an additional 537,136 shares during the last quarter. Capital Research Global Investors raised its holdings in American Tower by 66.5% in the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after buying an additional 3,421,413 shares during the last quarter. Finally, Norges Bank purchased a new position in American Tower in the fourth quarter worth about $1,164,851,000. Institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

AMT has been the subject of several recent analyst reports. Barclays lifted their target price on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Morgan Stanley initiated coverage on shares of American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price for the company. Scotiabank lifted their target price on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a 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 report on Thursday, May 1st. Finally, UBS Group lifted their target price on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $240.88.

American Tower Stock Performance

AMT stock traded down $1.96 during midday trading on Friday, reaching $219.05. 1,358,450 shares of the company's stock traded hands, compared to its average volume of 2,503,799. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $243.56. The stock has a market cap of $102.55 billion, a P/E ratio of 56.31, a PEG ratio of 1.64 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. The stock's 50-day moving average is $216.39 and its 200 day moving average is $206.03.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating 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 business 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 earned $2.79 earnings per share. The firm's revenue was down 9.6% on a year-over-year basis. As a group, analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be issued 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 3.10%. American Tower's dividend payout ratio is currently 174.81%.

About American Tower

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.