Inscription Capital LLC acquired a new stake in shares of American Tower Corporation (NYSE:AMT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,948 shares of the real estate investment trust's stock, valued at approximately $1,512,000.
Other institutional investors have also modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower in the 4th quarter worth $29,000. Graney & King LLC purchased a new stake in American Tower in the 4th quarter valued at approximately $32,000. Lowe Wealth Advisors LLC increased its position in American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 109 shares during the period. Crowley Wealth Management Inc. purchased a new position in shares of American Tower during the 4th quarter worth approximately $37,000. Finally, City Holding Co. acquired a new stake in shares of American Tower in the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds own 92.69% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on AMT. Wells Fargo & Company upped their price target on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. BMO Capital Markets lifted their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Citigroup raised their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. UBS Group boosted their price target on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, Raymond James Financial increased their price target on 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 investment 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. Based on data from MarketBeat.com, American Tower presently has an average rating of "Buy" and an average target price of $240.25.
View Our Latest Report on AMT
American Tower Stock Performance
AMT traded up $0.36 during trading hours on Wednesday, hitting $215.50. 1,665,651 shares of the stock were exchanged, compared to its average volume of 2,486,491. The stock has a market cap of $100.88 billion, a price-to-earnings ratio of 55.40, a price-to-earnings-growth ratio of 1.60 and a beta of 0.81. The stock has a 50-day simple moving average of $215.28 and a 200-day simple moving average of $203.16. 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 12 month low of $172.51 and a 12 month high of $243.56.
American Tower (NYSE:AMT - Get Free Report) last posted its 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 firm had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. American Tower'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 EPS. Analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.
American Tower Announces Dividend
The firm also recently announced 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 3.16%. The ex-dividend date is Friday, June 13th. American Tower's payout ratio is 174.81%.
American Tower Profile
(
Free Report)
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.
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