MBM Wealth Consultants LLC Buys Shares of 1,730 American Tower Corporation (NYSE:AMT)

MBM Wealth Consultants LLC purchased a new position in shares of American Tower Corporation (NYSE:AMT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,730 shares of the real estate investment trust's stock, valued at approximately $376,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of American Tower in the first quarter valued at about $31,000. Lowe Wealth Advisors LLC grew its stake in shares of American Tower by 218.0% in the first 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 in the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower in the fourth quarter valued at about $29,000. Graney & King LLC acquired a new stake in shares of American Tower in the fourth quarter valued at about $32,000. Finally, City Holding Co. acquired a new stake in shares of American Tower in the first quarter valued at about $39,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

Shares of American Tower stock traded down $1.09 on Friday, reaching $221.75. 1,369,114 shares of the company were exchanged, compared to its average volume of 2,507,714. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81. The company's 50-day moving average is $216.46 and its two-hundred day moving average is $205.07. The firm has a market cap of $103.81 billion, a price-to-earnings ratio of 57.00, a P/E/G ratio of 1.65 and a beta of 0.82. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced 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. The business had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The business's quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.79 EPS. As a group, research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.07%. The ex-dividend date is Friday, June 13th. American Tower's dividend payout ratio is currently 174.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. UBS Group increased their target price on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Wells Fargo & Company increased their price target on American Tower from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Barclays increased their price target on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Citigroup increased their price target on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a report on Monday, March 10th. Finally, Royal Bank Of Canada increased their price target on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, American Tower presently has an average rating of "Buy" and an average price target of $240.25.

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.