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

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

A number of other institutional investors also recently modified their holdings of AMT. Partners Group Holding AG lifted its holdings in shares of American Tower by 8.3% in the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock worth $69,438,000 after buying an additional 28,988 shares in the last quarter. Aviva PLC raised its position in American Tower by 13.4% during the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock valued at $71,252,000 after purchasing an additional 46,009 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 69 shares during the last quarter. Shum Financial Group Inc. lifted its position in American Tower by 3.5% in the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock worth $913,000 after buying an additional 141 shares during the last quarter. Finally, Mariner LLC lifted its holdings in shares of American Tower by 30.9% in the 4th quarter. Mariner LLC now owns 363,088 shares of the real estate investment trust's stock worth $66,585,000 after acquiring an additional 85,693 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Up 0.4%

Shares of American Tower stock traded up $0.92 on Wednesday, reaching $221.62. The company's stock had a trading volume of 1,712,846 shares, compared to its average volume of 2,504,151. The company has a market capitalization of $103.75 billion, a price-to-earnings ratio of 56.97, a P/E/G ratio of 1.63 and a beta of 0.82. The firm's fifty day simple moving average is $216.63 and its two-hundred day simple moving average is $205.42. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. 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 released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the company earned $2.79 EPS. American Tower's revenue for the quarter was down 9.6% on a year-over-year basis. Equities analysts anticipate 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 $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio (DPR) is presently 174.81%.

Analyst Ratings Changes

AMT has been the subject of several recent research reports. Morgan Stanley initiated coverage on American Tower in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective for the company. Bank of America began coverage on shares of American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price objective for the company. Royal Bank Of Canada increased their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. JMP Securities increased their target price on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 30th. Finally, Raymond James Financial increased their target price on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Two 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. Based on data from MarketBeat.com, American Tower currently has an average rating of "Buy" and an average price target of $240.88.

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.