Klingenstein Fields & Co. LP Buys 298 Shares of American Tower Corporation (NYSE:AMT)

Klingenstein Fields & Co. LP increased its stake in American Tower Corporation (NYSE:AMT) by 0.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 139,072 shares of the real estate investment trust’s stock after acquiring an additional 298 shares during the quarter. American Tower comprises 1.3% of Klingenstein Fields & Co. LP’s holdings, making the stock its 27th largest holding. Klingenstein Fields & Co. LP’s holdings in American Tower were worth $30,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Glenview Trust co grew its position in shares of American Tower by 0.8% in the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock worth $1,294,000 after buying an additional 54 shares during the last quarter. CreativeOne Wealth LLC boosted its stake 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. Fortitude Advisory Group L.L.C. grew its holdings in American Tower by 2.9% in 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 purchasing an additional 54 shares during the last quarter. Veracity Capital LLC increased its position in shares of American Tower by 4.7% during the first quarter. Veracity Capital LLC now owns 1,237 shares of the real estate investment trust’s stock worth $269,000 after purchasing an additional 56 shares in the last quarter. Finally, Verity Asset Management Inc. increased its position in shares of American Tower by 4.1% during the first quarter. Verity Asset Management Inc. now owns 1,413 shares of the real estate investment trust’s stock worth $308,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $224.62 on Wednesday. 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 cap of $105.15 billion, a PE ratio of 57.74, a price-to-earnings-growth ratio of 1.64 and a beta of 0.82. The business has a 50-day simple moving average of $215.82 and a 200-day simple moving average of $204.23.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the business earned $2.79 earnings per share. American Tower’s quarterly revenue was down 9.6% on a year-over-year basis. On average, equities analysts expect 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 will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s dividend payout ratio (DPR) is presently 174.81%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Citigroup boosted their target price on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. JMP Securities upped 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. Wells Fargo & Company increased their price objective on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Barclays boosted their target price on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, Royal Bank Of Canada raised their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, American Tower has a consensus rating of “Buy” and a consensus price target of $240.25.

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.