Good Steward Wealth Advisors LLC purchased a new position in American Tower Corporation (NYSE:AMT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,419 shares of the real estate investment trust's stock, valued at approximately $309,000.
Several other institutional investors have also made changes to their positions in AMT. Lowe Wealth Advisors LLC increased its stake in 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 valued at $35,000 after buying an additional 109 shares during the period. Minot DeBlois Advisors LLC purchased a new position in shares of American Tower during the 4th quarter valued at $29,000. Graney & King LLC acquired a new position in shares of American Tower in the fourth quarter worth $32,000. City Holding Co. acquired a new position in shares of American Tower in the first quarter worth $39,000. Finally, Global Wealth Strategies & Associates raised its holdings in shares of American Tower by 193.5% during the first quarter. Global Wealth Strategies & Associates now owns 182 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 120 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.
American Tower Trading Up 0.2%
NYSE:AMT opened at $215.50 on Friday. The company's 50 day moving average is $215.57 and its 200-day moving average is $203.31. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.43. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The firm has a market cap of $100.88 billion, a price-to-earnings ratio of 55.40, a P/E/G ratio of 1.60 and a beta of 0.81.
American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates 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 was down 9.6% compared to the same quarter last year. During the same period last year, the business posted $2.79 EPS. Equities analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.
American Tower Dividend Announcement
The firm also recently disclosed 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 is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.16%. American Tower's payout ratio is presently 174.81%.
Wall Street Analyst Weigh In
A number of research analysts have commented on AMT shares. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. JMP Securities lifted their price target on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a report on Wednesday, April 30th. Royal Bank Of Canada boosted their price target on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. UBS Group raised their price objective on shares of American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Citigroup lifted their target price on shares of American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Two 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. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $240.25.
Check Out Our Latest Stock Report on AMT
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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