Meriwether Wealth & Planning LLC bought 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 bought 1,192 shares of the real estate investment trust's stock, valued at approximately $259,000.
A number of other large investors have also recently modified their holdings of the business. Brighton Jones LLC grew its holdings in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after purchasing an additional 2,104 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of American Tower by 108.0% during the fourth quarter. Venturi Wealth Management LLC now owns 337 shares of the real estate investment trust's stock worth $62,000 after buying an additional 175 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of American Tower during the fourth quarter worth $48,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of American Tower in the 4th quarter valued at $233,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of American Tower during the 4th quarter valued at $46,000. Institutional investors and hedge funds own 92.69% of the company's stock.
Wall Street Analysts Forecast Growth
AMT has been the subject of several recent research reports. Raymond James Financial upped their price objective on American Tower from $231.00 to $251.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Bank of America assumed coverage on American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price objective for the company. Morgan Stanley started coverage on American Tower in a report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 target price on the stock. JMP Securities upped their price target on American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. Finally, UBS Group increased their price target on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $240.25.
View Our Latest Analysis on American Tower
American Tower Trading Up 0.2%
NYSE:AMT opened at $215.50 on Friday. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43. The stock has a market capitalization of $100.88 billion, a price-to-earnings ratio of 55.40, a PEG ratio of 1.60 and a beta of 0.81. The firm has a fifty day simple moving average of $215.57 and a two-hundred day simple moving average of $203.31.
American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.34. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The company had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter in the prior year, the firm earned $2.79 EPS. The business's revenue was down 9.6% on a year-over-year basis. Analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.
American Tower Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders 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 yield of 3.16%. American Tower's dividend payout ratio (DPR) is presently 174.81%.
About American Tower
(
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.
See Also
Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corporation (NYSE:AMT - Free Report).
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