RMR Wealth Builders Grows Stock Position in American Tower Co. (NYSE:AMT)

RMR Wealth Builders raised its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 14.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,256 shares of the real estate investment trust's stock after purchasing an additional 1,258 shares during the period. RMR Wealth Builders' holdings in American Tower were worth $2,232,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Tobam increased its position in shares of American Tower by 443.0% in the 1st quarter. Tobam now owns 10,947 shares of the real estate investment trust's stock valued at $2,382,000 after acquiring an additional 8,931 shares during the period. Liberty Capital Management Inc. increased its position in shares of 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 acquiring an additional 316 shares during the period. Simon Quick Advisors LLC increased its position in shares of American Tower by 17.1% in the 1st quarter. Simon Quick Advisors LLC now owns 1,702 shares of the real estate investment trust's stock valued at $370,000 after acquiring an additional 248 shares during the period. Capital Advisors Ltd. LLC increased its position in shares of American Tower by 6.7% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,519 shares of the real estate investment trust's stock valued at $331,000 after acquiring an additional 96 shares during the period. Finally, Thompson Investment Management Inc. acquired a new position in shares of American Tower in the 1st quarter valued at $3,150,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Hsbc Global Res raised American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Morgan Stanley assumed coverage on American Tower in a research report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 target price on the stock. Citigroup upped their target price on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Bank of America assumed coverage on shares of American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 price target on the stock. Finally, Royal Bank of Canada upped their price target on shares of American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $240.25.

American Tower Price Performance

AMT traded down $2.94 during trading on Friday, hitting $214.76. The company's stock had a trading volume of 2,455,578 shares, compared to its average volume of 2,490,204. 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 twelve month low of $172.51 and a twelve month high of $243.56. The business's fifty day simple moving average is $214.91 and its 200 day simple moving average is $203.08. The firm has a market capitalization of $100.54 billion, a price-to-earnings ratio of 90.62, a P/E/G ratio of 1.29 and a beta of 0.81.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data 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 return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the company earned $2.79 earnings per share. American Tower's quarterly revenue 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 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.17%. American Tower's dividend payout ratio (DPR) is presently 174.81%.

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.