American Tower Corporation (NYSE:AMT) Stock Holdings Increased by ProVise Management Group LLC

ProVise Management Group LLC grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 4.0% in the first quarter, HoldingsChannel reports. The fund owned 16,794 shares of the real estate investment trust’s stock after buying an additional 651 shares during the period. ProVise Management Group LLC’s holdings in American Tower were worth $3,654,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. North Capital Inc. acquired a new stake in American Tower in the first quarter worth about $25,000. Minot DeBlois Advisors LLC bought a new stake in shares of American Tower during the 4th quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of American Tower in the 1st quarter worth approximately $31,000. Lowe Wealth Advisors LLC boosted 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 acquiring an additional 109 shares in the last quarter. Finally, City Holding Co. acquired a new position in shares of American Tower during the first quarter valued at approximately $39,000. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada upped their target price on American Tower from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday. Raymond James Financial set a $250.00 price objective on American Tower and gave the stock a “strong-buy” rating in a research note on Wednesday. JMP Securities raised their target price on American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 30th. HSBC lowered American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a report on Wednesday. Finally, 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. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $243.88.

American Tower Stock Performance

Shares of AMT opened at $208.39 on Friday. The company has a 50-day moving average of $218.73 and a two-hundred day moving average of $210.09. The stock has a market cap of $97.55 billion, a price-to-earnings ratio of 75.78, a PEG ratio of 1.15 and a beta of 0.82. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.81. American Tower Corporation has a one year low of $172.51 and a one year high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the business posted $2.79 EPS. The company’s revenue was down 9.4% on a year-over-year basis. On average, equities research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, June 13th. American Tower’s payout ratio is presently 247.27%.

American Tower Company 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.