Advyzon Investment Management LLC Takes $346,000 Position in American Tower Corporation (NYSE:AMT)

Key Points

• Advyzon Investment Management LLC has made a new investment in American Tower Corporation, purchasing 1,590 shares valued at approximately $346,000 during the first quarter.
• The stock's recent performance includes a 1.4% decrease, with shares trading at $210.10 and a fifty-two week high of $243.56.
• American Tower announced a quarterly dividend of $1.70 per share, reflecting a 3.2% dividend yield, despite a significant payout ratio of 247.27%.

Advyzon Investment Management LLC bought a new stake in American Tower Corporation (NYSE:AMT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,590 shares of the real estate investment trust's stock, valued at approximately $346,000.

Several other large investors have also made changes to their positions in the company. Cohen & Steers Inc. grew its holdings in shares of American Tower by 21.8% during the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after purchasing an additional 3,437,602 shares during the last quarter. Capital Research Global Investors lifted its position in American Tower by 66.5% during the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after buying an additional 3,421,413 shares in the last quarter. Principal Financial Group Inc. grew its holdings in American Tower by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust's stock worth $1,335,407,000 after acquiring an additional 220,565 shares during the last quarter. Northern Trust Corp increased its position in American Tower by 10.5% in the 4th quarter. Northern Trust Corp now owns 5,525,180 shares of the real estate investment trust's stock valued at $1,013,373,000 after acquiring an additional 524,089 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of American Tower by 160.6% in the fourth quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust's stock worth $902,396,000 after acquiring an additional 3,032,005 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Insiders Place Their Bets

In other news, CEO Juan Font sold 720 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the transaction, the chief executive officer directly owned 23,425 shares of the company's stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.17% of the company's stock.

American Tower Trading Down 1.7%

NYSE:AMT traded down $3.50 on Friday, reaching $206.51. 1,727,522 shares of the stock traded hands, compared to its average volume of 2,116,492. The firm has a market capitalization of $96.70 billion, a price-to-earnings ratio of 75.09, a price-to-earnings-growth ratio of 1.20 and a beta of 0.82. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The company's 50 day moving average is $218.53 and its 200-day moving average is $210.94.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.01. The firm had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%. The company's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.79 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 13th were paid a dividend of $1.70 per share. The ex-dividend date was Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.3%. American Tower's dividend payout ratio (DPR) is 247.27%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets restated an "outperform" rating and set a $245.00 target price (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Raymond James Financial set a $250.00 price objective on American Tower and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. Scotiabank raised their target price on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. Wells Fargo & Company dropped their price target on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Finally, Bank of America started coverage on shares of American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, American Tower currently has a consensus rating of "Moderate Buy" and a consensus target price of $243.88.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.