American Tower Corporation (NYSE:AMT) Position Lifted by FourThought Financial Partners LLC

FourThought Financial Partners LLC lifted its stake in shares of American Tower Corporation (NYSE:AMT) by 8.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 123,179 shares of the real estate investment trust’s stock after acquiring an additional 9,799 shares during the quarter. American Tower makes up approximately 2.8% of FourThought Financial Partners LLC’s holdings, making the stock its 3rd biggest holding. FourThought Financial Partners LLC’s holdings in American Tower were worth $26,804,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Elmwood Wealth Management Inc. raised its position in American Tower by 2.5% during the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock worth $454,000 after buying an additional 50 shares during the last quarter. 4J Wealth Management LLC grew its holdings 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. Coyle Financial Counsel LLC grew its holdings in American Tower by 2.4% during the first quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust’s stock worth $487,000 after acquiring an additional 53 shares during the period. CreativeOne Wealth LLC grew its holdings 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. grew its holdings 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. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMT has been the topic of a number of research reports. Royal Bank Of Canada raised their target price 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. Raymond James Financial upped their price objective on shares of American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Wells Fargo & Company upped their price objective on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. JMP Securities boosted their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a report on Wednesday, April 30th. Finally, Scotiabank boosted their price objective on shares of American Tower from $234.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $242.31.

American Tower Stock Performance

Shares of NYSE AMT opened at $229.75 on Friday. 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. The stock has a market capitalization of $107.55 billion, a P/E ratio of 59.06, a P/E/G ratio of 1.27 and a beta of 0.82. The firm’s 50-day moving average price is $218.70 and its two-hundred day moving average price is $209.08.

American Tower (NYSE:AMT) last posted its earnings results 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 net margin of 17.34% and a return on equity of 30.20%. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the firm earned $2.79 EPS. American Tower’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 13th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.96%. 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.