Retirement Planning Co of New England Inc. trimmed its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 64.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,209 shares of the real estate investment trust's stock after selling 2,180 shares during the quarter. Retirement Planning Co of New England Inc.'s holdings in American Tower were worth $263,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently modified their holdings of the company. North Capital Inc. purchased a new position in shares of American Tower during the 1st quarter valued at about $25,000. Minot DeBlois Advisors LLC bought a new stake in shares of American Tower in the 4th quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in American Tower during the 1st quarter valued at $31,000. Graney & King LLC purchased a new stake in American Tower in the fourth quarter worth about $32,000. Finally, Lowe Wealth Advisors LLC boosted its position in shares of American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 109 shares in the last quarter. Institutional investors own 92.69% of the company's stock.
Analyst Ratings Changes
AMT has been the topic of several recent research reports. JMP Securities upped their price target 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. Wells Fargo & Company lifted their target price on shares of American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Barclays increased 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. UBS Group increased their target price on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Morgan Stanley assumed coverage on American Tower in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price objective on the stock. 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 stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $240.88.
View Our Latest Stock Report on American Tower
American Tower Price Performance
Shares of NYSE AMT opened at $223.27 on Friday. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.81 and a current ratio of 0.81. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The company has a market cap of $104.52 billion, a PE ratio of 57.40, a P/E/G ratio of 1.66 and a beta of 0.82. The business has a 50-day simple moving average of $216.43 and a two-hundred day simple moving average of $207.09.
American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $2.54 billion. During the same period in the prior year, the company earned $2.79 earnings per share. The firm's revenue was down 9.6% on a year-over-year basis. As a group, equities analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.
American Tower Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, June 13th. American Tower's dividend payout ratio (DPR) is presently 174.81%.
American Tower Profile
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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.
Further Reading
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