Janney Montgomery Scott LLC grew its stake in American Tower Co. (NYSE:AMT - Free Report) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 258,953 shares of the real estate investment trust's stock after purchasing an additional 27,572 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.06% of American Tower worth $56,348,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Lowe Wealth Advisors LLC lifted its holdings 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 buying an additional 109 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower during the 4th quarter valued at approximately $29,000. Graney & King LLC bought a new position in American Tower during the fourth quarter worth $32,000. City Holding Co. bought a new position in American Tower during the first quarter worth $39,000. Finally, Global Wealth Strategies & Associates boosted its holdings in American Tower by 193.5% in the first quarter. Global Wealth Strategies & Associates now owns 182 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 120 shares during the period. Institutional investors own 92.69% of the company's stock.
American Tower Stock Performance
Shares of AMT opened at $215.00 on Tuesday. The firm has a market capitalization of $100.65 billion, a PE ratio of 90.72, a P/E/G ratio of 1.29 and a beta of 0.81. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a 50-day moving average price of $215.13 and a 200 day moving average price of $203.08. American Tower Co. has a 52-week low of $172.51 and a 52-week high of $243.56.
American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the prior year, the business posted $2.79 EPS. The business's revenue for the quarter was down 9.6% compared to the same quarter last year. On average, sell-side analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.
American Tower Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.16%. 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
A number of research analysts have recently issued reports on AMT shares. JMP Securities raised their price target on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research report on Wednesday, April 30th. Scotiabank raised their target price on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 30th. UBS Group upped their target price on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. BMO Capital Markets raised their price target on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, Royal Bank of Canada upped their price objective on American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $240.25.
Check Out Our Latest Report on American Tower
American Tower Company 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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