Fiduciary Family Office LLC Purchases Shares of 2,823 American Tower Corporation (NYSE:AMT)

Key Points

• Fiduciary Family Office LLC has acquired a new stake in American Tower Corporation, purchasing 2,823 shares worth approximately $614,000 during the first quarter.
• American Tower recently reported a quarterly earnings per share (EPS) of $2.60, slightly surpassing analysts' expectations, despite a 9.4% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $1.70 per share, reflecting a 3.3% dividend yield, although its dividend payout ratio stands at 247.27%.

Fiduciary Family Office LLC acquired a new stake in American Tower Corporation (NYSE:AMT - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,823 shares of the real estate investment trust's stock, valued at approximately $614,000.

Other institutional investors also recently made changes to their positions in the company. North Capital Inc. purchased a new stake in American Tower during the 1st quarter valued at $25,000. Hopwood Financial Services Inc. lifted its position in shares of American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 60 shares during the period. Minot DeBlois Advisors LLC purchased a new stake in shares of American Tower in the 4th quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of American Tower in the 1st quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC lifted its position in shares of American Tower by 218.0% in the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

Shares of AMT traded down $0.51 on Monday, reaching $206.00. The company's stock had a trading volume of 2,339,182 shares, compared to its average volume of 2,134,941. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $96.46 billion, a P/E ratio of 74.91, a PEG ratio of 1.18 and a beta of 0.82. The stock's 50 day simple moving average is $218.21 and its two-hundred day simple moving average is $211.56. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm's revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.79 earnings per share. Research analysts forecast that American Tower Corporation 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 was paid on Friday, July 11th. Shareholders of record on Friday, June 13th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.3%. American Tower's payout ratio is currently 247.27%.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares of the company's stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. BMO Capital Markets reaffirmed an "outperform" rating and issued a $245.00 target price (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Hsbc Global Res cut shares of American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Barclays increased their price target on shares of American Tower from $223.00 to $246.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group reiterated a "buy" rating on shares of American Tower in a research note on Tuesday, July 29th. Finally, Scotiabank increased their price target on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, American Tower presently has a consensus rating of "Moderate Buy" and a consensus target price of $243.88.

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.