Axxcess Wealth Management LLC Acquires 1,272 Shares of American Tower Corporation (NYSE:AMT)

Axxcess Wealth Management LLC lifted its position in American Tower Corporation (NYSE:AMT - Free Report) by 47.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,929 shares of the real estate investment trust's stock after acquiring an additional 1,272 shares during the quarter. Axxcess Wealth Management LLC's holdings in American Tower were worth $855,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AMT. Partners Group Holding AG boosted its holdings in shares of American Tower by 8.3% in the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust's stock worth $69,438,000 after buying an additional 28,988 shares during the last quarter. Aviva PLC boosted its holdings in shares of American Tower by 13.4% in the 4th quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust's stock worth $71,252,000 after buying an additional 46,009 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of American Tower by 23.0% in the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock worth $80,000 after buying an additional 69 shares during the last quarter. Shum Financial Group Inc. boosted its holdings in shares of American Tower by 3.5% in the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock worth $913,000 after buying an additional 141 shares during the last quarter. Finally, Mariner LLC boosted its holdings in shares of American Tower by 30.9% in the 4th quarter. Mariner LLC now owns 363,088 shares of the real estate investment trust's stock worth $66,585,000 after buying an additional 85,693 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

American Tower Price Performance

Shares of AMT stock traded down $1.96 during trading on Friday, hitting $219.05. The company had a trading volume of 1,358,450 shares, compared to its average volume of 2,503,799. 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's 50-day moving average is $216.39 and its two-hundred day moving average is $206.03. The stock has a market capitalization of $102.55 billion, a price-to-earnings ratio of 56.31, a price-to-earnings-growth ratio of 1.64 and a beta of 0.82. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.34. The company had revenue of $2.56 billion for 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 revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.79 earnings per share. As a group, analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Friday, June 13th. American Tower's dividend payout ratio (DPR) is 174.81%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMT. 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 target on the stock. Barclays upped their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Raymond James Financial upped their price objective on shares of American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Scotiabank upped their price objective on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Finally, Morgan Stanley initiated coverage on shares of American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $240.88.

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.