American Tower Corporation (NYSE:AMT) Shares Sold by Arcataur Capital Management LLC

Arcataur Capital Management LLC trimmed its holdings in shares of American Tower Corporation (NYSE:AMT) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,266 shares of the real estate investment trust’s stock after selling 115 shares during the period. Arcataur Capital Management LLC’s holdings in American Tower were worth $493,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Baldwin Investment Management LLC lifted its position in American Tower by 0.9% during the first quarter. Baldwin Investment Management LLC now owns 13,314 shares of the real estate investment trust’s stock valued at $2,897,000 after buying an additional 114 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in shares of American Tower by 5.3% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 6,068 shares of the real estate investment trust’s stock worth $1,320,000 after purchasing an additional 306 shares in the last quarter. University of Texas Texas AM Investment Management Co. lifted its position in shares of American Tower by 39.6% during the first quarter. University of Texas Texas AM Investment Management Co. now owns 12,259 shares of the real estate investment trust’s stock worth $2,668,000 after purchasing an additional 3,479 shares in the last quarter. First National Advisers LLC lifted its position in shares of American Tower by 1.7% during the first quarter. First National Advisers LLC now owns 12,753 shares of the real estate investment trust’s stock worth $2,775,000 after purchasing an additional 212 shares in the last quarter. Finally, LPL Financial LLC lifted its position in shares of American Tower by 7.3% during the first quarter. LPL Financial LLC now owns 395,456 shares of the real estate investment trust’s stock worth $86,051,000 after purchasing an additional 26,957 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Performance

AMT stock opened at $229.75 on Monday. The company has a market capitalization of $107.55 billion, a P/E ratio of 59.06, a PEG ratio of 1.27 and a beta of 0.82. The company has a 50-day simple moving average of $218.70 and a 200 day simple moving average of $209.49. 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 quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.43.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.34. The business had revenue of $2.56 billion during 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 company’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.79 earnings per share. Sell-side analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 13th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Friday, June 13th. American Tower’s payout ratio is 174.81%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AMT shares. Morgan Stanley started coverage on shares of American Tower in a research report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. JMP Securities boosted their target price on shares of American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a research report 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. Finally, 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. Two 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 stock. According to MarketBeat.com, American Tower currently has a consensus rating of “Buy” and an average target price of $242.31.

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.