American Financial Network Advisory Services LLC lessened its stake in shares of American Tower Corp (NYSE:AMT) by 35.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,123 shares of the real estate investment trust’s stock after selling 1,680 shares during the period. American Financial Network Advisory Services LLC’s holdings in American Tower were worth $606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Garrison Point Advisors LLC raised its holdings in American Tower by 2.9% during the 1st quarter. Garrison Point Advisors LLC now owns 7,094 shares of the real estate investment trust’s stock worth $1,398,000 after buying an additional 200 shares during the period. Great Lakes Advisors LLC raised its holdings in American Tower by 3.3% during the 1st quarter. Great Lakes Advisors LLC now owns 22,787 shares of the real estate investment trust’s stock worth $4,490,000 after buying an additional 724 shares during the period. FineMark National Bank & Trust raised its holdings in American Tower by 2.8% during the 1st quarter. FineMark National Bank & Trust now owns 2,429 shares of the real estate investment trust’s stock worth $479,000 after buying an additional 67 shares during the period. TrinityPoint Wealth LLC raised its holdings in American Tower by 5.1% during the 1st quarter. TrinityPoint Wealth LLC now owns 3,430 shares of the real estate investment trust’s stock worth $676,000 after buying an additional 166 shares during the period. Finally, Csenge Advisory Group raised its holdings in American Tower by 7.6% during the 1st quarter. Csenge Advisory Group now owns 1,566 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 111 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

In related news, SVP Robert Joseph Meyer, Jr. sold 44,168 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $198.33, for a total value of $8,759,839.44. Following the transaction, the senior vice president now owns 54,460 shares in the company, valued at $10,801,051.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James D. Taiclet, Jr. sold 11,863 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $195.88, for a total value of $2,323,724.44. The disclosure for this sale can be found here. Insiders sold 215,986 shares of company stock worth $41,954,910 in the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

AMT has been the topic of several recent analyst reports. Bank of America boosted their price objective on American Tower from $172.00 to $208.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Macquarie restated a “buy” rating and set a $210.00 price objective on shares of American Tower in a report on Thursday, February 28th. Morgan Stanley upped their target price on American Tower from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Monday, March 11th. Edward Jones downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Finally, Wells Fargo & Co downgraded American Tower from an “outperform” rating to a “market perform” rating and upped their target price for the company from $190.00 to $196.00 in a report on Monday, April 15th. They noted that the move was a valuation call. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $180.44.

Shares of AMT opened at $202.43 on Monday. The stock has a market capitalization of $89.48 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.65 and a beta of 0.66. American Tower Corp has a fifty-two week low of $134.87 and a fifty-two week high of $203.38. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.50 and a current ratio of 0.50.

American Tower (NYSE:AMT) last issued its earnings results on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.04. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. American Tower had a return on equity of 22.61% and a net margin of 17.95%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. On average, sell-side analysts expect that American Tower Corp will post 7.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Thursday, April 11th were issued a $0.90 dividend. The ex-dividend date was Wednesday, April 10th. This represents a $3.60 dividend on an annualized basis and a yield of 1.78%. This is an increase from American Tower’s previous quarterly dividend of $0.84. American Tower’s dividend payout ratio is currently 45.06%.

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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 approximately 171,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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