Baker Tilly Wealth Management LLC Purchases 1,815 Shares of American Tower Co. (NYSE:AMT)

Baker Tilly Wealth Management LLC lifted its stake in American Tower Co. (NYSE:AMT - Free Report) by 62.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,734 shares of the real estate investment trust's stock after purchasing an additional 1,815 shares during the period. Baker Tilly Wealth Management LLC's holdings in American Tower were worth $1,030,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Minot DeBlois Advisors LLC purchased a new position in shares of American Tower during the 4th quarter worth approximately $29,000. Roxbury Financial LLC purchased a new stake in shares of American Tower in the fourth quarter valued at $32,000. Graney & King LLC acquired a new stake in shares of American Tower during the fourth quarter valued at $32,000. Lowe Wealth Advisors LLC boosted its stake in shares of 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 valued at $35,000 after acquiring an additional 109 shares during the last quarter. Finally, Crowley Wealth Management Inc. acquired a new position in American Tower in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

Shares of NYSE:AMT traded down $0.42 on Tuesday, hitting $213.69. The company's stock had a trading volume of 2,035,496 shares, compared to its average volume of 2,502,123. The company has a market capitalization of $100.04 billion, a price-to-earnings ratio of 90.16, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 12 month low of $172.51 and a 12 month high of $243.56. The stock's 50-day moving average is $215.29 and its two-hundred day moving average is $202.42.

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

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio (DPR) is currently 174.81%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AMT shares. UBS Group lifted their price target on shares of American Tower from $245.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Raymond James increased their target price on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. BMO Capital Markets boosted their price target on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Finally, JMP Securities boosted their price objective on shares of American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research note on Wednesday, April 30th. 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. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $240.25.

American Tower Company 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.