Valeo Financial Advisors LLC Has $2.02 Million Stock Position in American Tower Corporation (NYSE:AMT)

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

A number of other large investors also recently modified their holdings of the business. North Capital Inc. bought a new stake in American Tower in the first quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in American Tower in the first quarter worth about $31,000. Lowe Wealth Advisors LLC raised its position in American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 109 shares in the last quarter. Minot DeBlois Advisors LLC bought a new stake in American Tower in the fourth quarter worth about $29,000. Finally, Graney & King LLC bought a new stake in American Tower in the fourth quarter worth about $32,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. JMP Securities increased their price target on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. Raymond James Financial increased their price target on American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. UBS Group increased their price target on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday. Wells Fargo & Company increased their price target on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, Royal Bank Of Canada increased their price target on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Two equities research 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 stock presently has a consensus rating of "Buy" and an average target price of $240.88.

American Tower Stock Performance

Shares of NYSE AMT traded down $0.70 during trading hours on Thursday, hitting $221.13. 1,459,191 shares of the stock were exchanged, compared to its average volume of 2,507,390. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81. The company's 50 day moving average is $216.55 and its 200 day moving average is $205.54. The firm has a market capitalization of $103.52 billion, a P/E ratio of 56.85, a P/E/G ratio of 1.65 and a beta of 0.82. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56.

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 earnings per share 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 firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the firm earned $2.79 EPS. The business's revenue was down 9.6% on a year-over-year basis. On average, research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

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

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.