Consolidated Planning Corp Sells 73 Shares of American Tower Corporation (NYSE:AMT)

Consolidated Planning Corp cut its stake in shares of American Tower Corporation (NYSE:AMT) by 6.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,047 shares of the real estate investment trust’s stock after selling 73 shares during the quarter. Consolidated Planning Corp’s holdings in American Tower were worth $228,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Minot DeBlois Advisors LLC bought a new position in shares of American Tower during the fourth quarter valued at $29,000. Graney & King LLC bought a new position in shares of American Tower in the fourth quarter valued at about $32,000. Lowe Wealth Advisors LLC raised its holdings in shares of 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 valued at $35,000 after buying an additional 109 shares during the last quarter. Crowley Wealth Management Inc. bought a new position in shares of American Tower in the fourth quarter valued at about $37,000. Finally, City Holding Co. bought a new position in shares of American Tower in the first quarter valued at about $39,000. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMT. Wells Fargo & Company lifted their price target on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. UBS Group lifted their price target on American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Royal Bank Of Canada lifted their price target on American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Barclays lifted their price target on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Finally, Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, American Tower has a consensus rating of “Buy” and a consensus target price of $240.25.

American Tower Price Performance

American Tower stock opened at $221.71 on Tuesday. The firm has a market capitalization of $103.79 billion, a P/E ratio of 57.00, a PEG ratio of 1.61 and a beta of 0.81. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $243.56. The business has a 50-day moving average of $215.73 and a 200-day moving average of $203.40. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43.

American Tower (NYSE:AMT) last posted its 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. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates 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 for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.79 EPS. On average, equities analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 3.07%. American Tower’s payout ratio is currently 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.