Valeo Financial Advisors LLC Acquires 4,066 Shares of American Tower Corporation (NYSE:AMT)

Valeo Financial Advisors LLC increased its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 77.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,296 shares of the real estate investment trust's stock after purchasing an additional 4,066 shares during the quarter. Valeo Financial Advisors LLC's holdings in American Tower were worth $2,023,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after acquiring an additional 2,104 shares during the period. Proficio Capital Partners LLC acquired a new position in American Tower during the fourth quarter worth $235,000. Bank Julius Baer & Co. Ltd Zurich raised its position in American Tower by 38.8% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 965 shares of the real estate investment trust's stock valued at $195,000 after purchasing an additional 270 shares during the period. Personal CFO Solutions LLC raised its position in American Tower by 18.7% in the fourth quarter. Personal CFO Solutions LLC now owns 1,749 shares of the real estate investment trust's stock valued at $321,000 after purchasing an additional 276 shares during the period. Finally, Sound View Wealth Advisors Group LLC raised its holdings in shares of American Tower by 8.2% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,718 shares of the real estate investment trust's stock valued at $315,000 after buying an additional 130 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Price Performance

NYSE:AMT traded down $0.45 during trading hours on Thursday, hitting $221.38. 427,991 shares of the company's stock traded hands, compared to its average volume of 2,499,711. The firm has a market cap of $103.64 billion, a P/E ratio of 56.92, a P/E/G ratio of 1.64 and a beta of 0.82. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. The business's fifty day simple moving average is $216.55 and its two-hundred day simple moving average is $205.54. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.43.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a return on equity of 30.20% and a net margin of 17.34%. American Tower's revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.79 EPS. On average, research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared 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 3.07%. American Tower's dividend payout ratio is presently 174.81%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank Of Canada upped their target price on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company raised their price objective on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Morgan Stanley assumed coverage on American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price 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 report on Tuesday. Finally, Scotiabank lifted their target price on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $240.88.

American Tower 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.