World Investment Advisors decreased its position in American Tower Corporation (NYSE:AMT - Free Report) by 29.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,090 shares of the real estate investment trust's stock after selling 1,683 shares during the quarter. World Investment Advisors' holdings in American Tower were worth $890,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of AMT. Elmwood Wealth Management Inc. increased its position in American Tower by 2.5% during the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock worth $454,000 after acquiring an additional 50 shares during the period. 4J Wealth Management LLC increased its position in American Tower by 4.0% during the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock worth $283,000 after acquiring an additional 50 shares during the period. Glenview Trust co increased its position in American Tower by 0.8% during the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock worth $1,294,000 after acquiring an additional 54 shares during the period. CreativeOne Wealth LLC increased its position in American Tower by 2.1% during the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock worth $477,000 after acquiring an additional 54 shares during the period. Finally, Fortitude Advisory Group L.L.C. increased its position in American Tower by 2.9% during the first quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock worth $416,000 after acquiring an additional 54 shares during the period. Institutional investors own 92.69% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on AMT. Barclays boosted their target price on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Raymond James Financial lifted their price target on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Scotiabank lifted their price target on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 30th. Bank of America initiated coverage on shares of American Tower in a research note on Monday, May 19th. They set a "buy" rating and a $255.00 price target on the stock. Finally, Morgan Stanley initiated coverage on shares of American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target on the stock. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $240.88.
View Our Latest Report on AMT
American Tower Stock Up 0.3%
Shares of NYSE:AMT opened at $220.64 on Wednesday. American Tower Corporation has a 52 week low of $172.51 and a 52 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. The company's fifty day moving average is $216.63 and its 200-day moving average is $205.42. The company has a market capitalization of $103.29 billion, a PE ratio of 56.72, a P/E/G ratio of 1.63 and a beta of 0.82.
American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating the consensus estimate 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 net margin of 17.34% and a return on equity of 30.20%. The firm's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.79 EPS. Equities research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.
American Tower Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.08%. American Tower's dividend payout ratio (DPR) is 174.81%.
American Tower Profile
(
Free Report)
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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