Wealth Enhancement Advisory Services LLC Acquires 1,205 Shares of American Tower Corporation (NYSE:AMT)

Wealth Enhancement Advisory Services LLC lifted its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 0.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,533 shares of the real estate investment trust's stock after buying an additional 1,205 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.06% of American Tower worth $60,174,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of AMT. Cohen & Steers Inc. boosted its position 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 valued at $3,516,890,000 after purchasing an additional 3,437,602 shares during the last quarter. Geode Capital Management LLC boosted its position in American Tower by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock valued at $2,074,956,000 after purchasing an additional 129,192 shares during the last quarter. FMR LLC boosted its position in American Tower by 5.0% during the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock valued at $2,050,390,000 after purchasing an additional 537,136 shares during the last quarter. Capital Research Global Investors boosted its position in American Tower by 66.5% during the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock valued at $1,570,547,000 after purchasing an additional 3,421,413 shares during the last quarter. Finally, Norges Bank acquired a new position in American Tower during the fourth quarter valued at approximately $1,164,851,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMT. Wells Fargo & Company upped 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. BMO Capital Markets upped their price objective on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. JMP Securities upped their price objective on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research note on Wednesday, April 30th. Raymond James Financial upped their price objective on American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Scotiabank increased their target price on American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $240.25.

American Tower Trading Up 0.2%

Shares of AMT stock opened at $215.50 on Friday. The stock's fifty day moving average price is $215.57 and its two-hundred day moving average price is $203.31. The company has a market cap of $100.88 billion, a PE ratio of 55.40, a P/E/G ratio of 1.60 and a beta of 0.81. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81.

American Tower (NYSE:AMT - Get Free Report) last issued its 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. The firm 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%. The company's revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.79 EPS. Equities analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders 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 dividend yield of 3.16%. American Tower's dividend payout ratio (DPR) is 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.

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