American Tower Corporation (NYSE:AMT) Shares Acquired by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC boosted its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 35.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,740 shares of the real estate investment trust's stock after acquiring an additional 2,020 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in American Tower were worth $1,684,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AMT. CFO4Life Group LLC grew its stake in shares of American Tower by 8.7% in the 1st quarter. CFO4Life Group LLC now owns 1,342 shares of the real estate investment trust's stock valued at $292,000 after buying an additional 107 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of American Tower by 11.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 280,745 shares of the real estate investment trust's stock valued at $61,090,000 after purchasing an additional 28,234 shares in the last quarter. Topsail Wealth Management LLC acquired a new stake in shares of American Tower in the 1st quarter valued at $349,000. Axxcess Wealth Management LLC raised its holdings in shares of American Tower by 47.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 3,929 shares of the real estate investment trust's stock valued at $855,000 after purchasing an additional 1,272 shares in the last quarter. Finally, Greenleaf Trust raised its holdings in shares of American Tower by 7.9% in the 1st quarter. Greenleaf Trust now owns 175,824 shares of the real estate investment trust's stock valued at $38,259,000 after purchasing an additional 12,933 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Price Performance

Shares of NYSE AMT traded down $1.66 on Friday, hitting $219.35. The company's stock had a trading volume of 633,347 shares, compared to its average volume of 2,500,066. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56. The company has a market capitalization of $102.69 billion, a price-to-earnings ratio of 56.37, a price-to-earnings-growth ratio of 1.65 and a beta of 0.82. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a 50 day moving average of $216.48 and a 200-day moving average of $205.79.

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 (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.34. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The company's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.79 earnings per share. As a group, research analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, June 13th. American Tower's dividend payout ratio is presently 174.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMT shares. Scotiabank raised their price objective on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. Wells Fargo & Company lifted their price target on shares of American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Barclays lifted their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Royal Bank Of Canada lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, JMP Securities lifted their price target 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 currently has a consensus rating of "Buy" and a consensus price target of $240.88.

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.