American Tower Corporation (NYSE:AMT) Shares Acquired by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC lifted its position in shares of American Tower Corporation (NYSE:AMT) by 23.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,630 shares of the real estate investment trust’s stock after purchasing an additional 497 shares during the period. Sage Mountain Advisors LLC’s holdings in American Tower were worth $572,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Elmwood Wealth Management Inc. raised its holdings in American Tower by 2.5% in the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock valued at $454,000 after acquiring an additional 50 shares in the last quarter. 4J Wealth Management LLC raised its holdings in American Tower by 4.0% in the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust’s stock valued at $283,000 after acquiring an additional 50 shares in the last quarter. Coyle Financial Counsel LLC raised its holdings in American Tower by 2.4% in the first quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust’s stock valued at $487,000 after acquiring an additional 53 shares in the last quarter. Glenview Trust co raised its holdings in American Tower by 0.8% in the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock valued at $1,294,000 after acquiring an additional 54 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its holdings in American Tower by 2.1% in the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust’s stock valued at $477,000 after acquiring an additional 54 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on AMT. Bank of America began 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. Morgan Stanley began 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. Scotiabank upped their price target 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. UBS Group upped their price target on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada upped their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. 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. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $240.88.

American Tower Stock Down 1.3%

AMT stock opened at $218.90 on Wednesday. The firm has a fifty day moving average price of $216.25 and a two-hundred day moving average price of $206.69. The firm has a market cap of $102.48 billion, a price-to-earnings ratio of 56.27, a PEG ratio of 1.64 and a beta of 0.82. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last released its quarterly 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. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.79 earnings per share. Research analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were given a dividend of $1.70 per share. The ex-dividend date was Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.11%. American Tower’s dividend payout ratio is currently 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.