Topsail Wealth Management LLC bought a new stake in shares of American Tower Corporation (NYSE:AMT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,603 shares of the real estate investment trust's stock, valued at approximately $349,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Elmwood Wealth Management Inc. lifted its stake in shares of American Tower by 2.5% during the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock valued at $454,000 after buying an additional 50 shares in the last quarter. 4J Wealth Management LLC lifted its stake in shares of American Tower by 4.0% during the 1st quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock valued at $283,000 after buying an additional 50 shares in the last quarter. Glenview Trust co lifted its stake in shares of American Tower by 0.8% during the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock valued at $1,294,000 after buying an additional 54 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in shares of American Tower by 2.1% during the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock valued at $477,000 after buying an additional 54 shares in the last quarter. Finally, Fortitude Advisory Group L.L.C. lifted its stake in shares of American Tower by 2.9% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock valued at $416,000 after buying an additional 54 shares in the last quarter. 92.69% of the stock is owned by institutional investors.
American Tower Price Performance
Shares of NYSE AMT traded down $1.96 during mid-day trading on Friday, reaching $219.05. 1,358,450 shares of the company were exchanged, compared to its average volume of 2,504,864. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.43. The stock has a market capitalization of $102.55 billion, a PE ratio of 56.31, a PEG ratio of 1.63 and a beta of 0.82. The company's 50 day moving average price is $216.39 and its 200 day moving average price is $206.17.
American Tower (NYSE:AMT - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the firm posted $2.79 EPS. The firm's revenue was down 9.6% compared to the same quarter last year. Sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.
American Tower Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 13th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.10%. The ex-dividend date was Friday, June 13th. American Tower's dividend payout ratio is presently 174.81%.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. UBS Group upped their price target on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday. Barclays boosted their price target on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Royal Bank Of Canada boosted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Morgan Stanley assumed coverage on shares of American Tower in a research report on Tuesday, April 1st. They set an "overweight" rating and a $250.00 price target for the company. Finally, JMP Securities boosted their price target on shares of American Tower from $248.00 to $260.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 30th. 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, American Tower presently has a consensus rating of "Buy" and a consensus target price of $240.88.
Read Our Latest Stock Analysis on AMT
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.
Read More
Before you consider American Tower, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and American Tower wasn't on the list.
While American Tower currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
