Atticus Wealth Management LLC Trims Position in American Tower Corporation (NYSE:AMT)

Atticus Wealth Management LLC decreased its position in shares of American Tower Corporation (NYSE:AMT) by 18.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 389 shares of the real estate investment trust’s stock after selling 89 shares during the period. Atticus Wealth Management LLC’s holdings in American Tower were worth $85,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Ellis Investment Partners LLC purchased a new position in shares of American Tower during the first quarter valued at approximately $221,000. Vantage Investment Partners LLC raised its stake in American Tower by 4.3% during the first quarter. Vantage Investment Partners LLC now owns 67,498 shares of the real estate investment trust’s stock worth $14,688,000 after purchasing an additional 2,791 shares during the period. Cross Staff Investments Inc boosted its holdings in shares of American Tower by 1.6% in the 1st quarter. Cross Staff Investments Inc now owns 6,104 shares of the real estate investment trust’s stock valued at $1,328,000 after purchasing an additional 97 shares during the last quarter. Shum Financial Group Inc. boosted its holdings in shares of 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 valued at $913,000 after purchasing an additional 141 shares during the last quarter. Finally, Nilsine Partners LLC boosted its holdings in shares of American Tower by 2.1% in the 1st quarter. Nilsine Partners LLC now owns 3,216 shares of the real estate investment trust’s stock valued at $700,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the topic of a number of research analyst reports. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Citigroup lifted their price target on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. UBS Group lifted their price target on shares of American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Bank of America initiated coverage on shares of American Tower in a report on Monday, May 19th. They issued a “buy” rating and a $255.00 price target on the stock. Finally, Morgan Stanley initiated coverage on shares of American Tower in a report on Tuesday, April 1st. They issued 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 stock. According to data from MarketBeat, American Tower currently has an average rating of “Buy” and a consensus price target of $240.25.

American Tower Stock Performance

Shares of AMT stock opened at $217.23 on Friday. The company’s fifty day simple moving average is $215.65 and its 200-day simple moving average is $203.34. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43. The company has a market cap of $101.70 billion, a PE ratio of 55.84, a P/E/G ratio of 1.61 and a beta of 0.81.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the firm posted $2.79 EPS. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, equities research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s dividend payout ratio (DPR) is 174.81%.

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.