Relyea Zuckerberg Hanson LLC purchased a new stake in shares of American Tower Co. (NYSE:AMT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,348 shares of the real estate investment trust's stock, valued at approximately $293,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Quintet Private Bank Europe S.A. raised its stake in American Tower by 3.9% during the first quarter. Quintet Private Bank Europe S.A. now owns 143,978 shares of the real estate investment trust's stock valued at $31,330,000 after purchasing an additional 5,440 shares in the last quarter. RMR Wealth Builders grew its position in American Tower by 14.0% in the 1st quarter. RMR Wealth Builders now owns 10,256 shares of the real estate investment trust's stock valued at $2,232,000 after acquiring an additional 1,258 shares during the last quarter. Tobam boosted its stake in shares of American Tower by 443.0% during the first quarter. Tobam now owns 10,947 shares of the real estate investment trust's stock valued at $2,382,000 after purchasing an additional 8,931 shares during the period. Liberty Capital Management Inc. boosted its position in American Tower by 1.4% in the 1st quarter. Liberty Capital Management Inc. now owns 22,235 shares of the real estate investment trust's stock valued at $4,838,000 after buying an additional 316 shares during the period. Finally, Simon Quick Advisors LLC increased its holdings in American Tower by 17.1% during the 1st quarter. Simon Quick Advisors LLC now owns 1,702 shares of the real estate investment trust's stock worth $370,000 after purchasing an additional 248 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.
American Tower Stock Performance
American Tower stock traded down $2.94 during midday trading on Friday, reaching $214.76. 2,455,578 shares of the stock traded hands, compared to its average volume of 2,487,977. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The firm has a fifty day moving average price of $214.91 and a two-hundred day moving average price of $203.13. The firm has a market cap of $100.54 billion, a price-to-earnings ratio of 90.62, a PEG ratio of 1.29 and a beta of 0.81.
American Tower (NYSE:AMT - Get Free Report) last released its 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. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the firm posted $2.79 earnings per share. The firm's revenue for the quarter was down 9.6% compared to the same quarter last year. On average, equities research analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.
American Tower Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.17%. American Tower's dividend payout ratio (DPR) is currently 174.81%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on AMT shares. JMP Securities upped their price objective on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a research note on Wednesday, April 30th. Bank of America initiated coverage on shares of American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 price target on the stock. Barclays upped their price target on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Morgan Stanley started coverage on American Tower in a research note on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price objective on the stock. Finally, UBS Group boosted their target price on shares of American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, American Tower has an average rating of "Buy" and an average price target of $240.25.
Get Our Latest Research Report on American Tower
American Tower 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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