American Tower Co. (NYSE:AMT) Stock Holdings Lifted by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC increased its holdings in American Tower Co. (NYSE:AMT - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,812 shares of the real estate investment trust's stock after buying an additional 1,335 shares during the quarter. Alpha Omega Wealth Management LLC's holdings in American Tower were worth $2,570,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower during the 4th quarter worth approximately $29,000. Roxbury Financial LLC acquired a new stake in American Tower in the 4th quarter valued at $32,000. Graney & King LLC purchased a new position in American Tower in the 4th quarter valued at $32,000. Lowe Wealth Advisors LLC boosted its stake in American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after buying an additional 109 shares during the last quarter. Finally, Crowley Wealth Management Inc. acquired a new position in shares of American Tower in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on AMT. Wells Fargo & Company increased their target price on American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Morgan Stanley began coverage on shares of American Tower in a research report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price on the stock. Bank of America started coverage on American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 target price on the stock. BMO Capital Markets increased their target price on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada raised their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $240.25.

American Tower Stock Down 1.4%

American Tower stock traded down $2.94 during midday trading on Friday, hitting $214.76. 2,455,578 shares of the company were exchanged, compared to its average volume of 2,484,164. The company has a market cap of $100.54 billion, a PE ratio of 90.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.81. American Tower Co. has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The company's fifty day moving average price is $214.69 and its 200-day moving average price is $203.08. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business's revenue was down 9.6% on a year-over-year basis. During the same period last year, the business earned $2.79 EPS. On average, research analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.17%. American Tower's dividend payout ratio (DPR) is presently 174.81%.

About American Tower

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.