American Tower Co. (NYSE:AMT) Shares Purchased by Focus Partners Wealth

Focus Partners Wealth grew its position in American Tower Co. (NYSE:AMT) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 272,811 shares of the real estate investment trust’s stock after purchasing an additional 10,998 shares during the period. Focus Partners Wealth owned approximately 0.06% of American Tower worth $52,720,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Roxbury Financial LLC bought a new stake in American Tower during the 4th quarter valued at $32,000. Graney & King LLC bought a new stake in shares of American Tower during the fourth quarter valued at about $32,000. Crowley Wealth Management Inc. acquired a new stake in American Tower in the fourth quarter worth about $37,000. Bank of Jackson Hole Trust bought a new position in American Tower in the 4th quarter valued at about $46,000. Finally, Kestra Investment Management LLC acquired a new position in American Tower during the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

AMT stock opened at $219.96 on Friday. The firm has a 50 day simple moving average of $215.14 and a 200 day simple moving average of $201.94. American Tower Co. has a 52 week low of $172.51 and a 52 week high of $243.56. The stock has a market cap of $102.82 billion, a P/E ratio of 92.81, a P/E/G ratio of 1.29 and a beta of 0.86. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last posted its quarterly 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. The business 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 10.05% and a return on equity of 22.01%. American Tower’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.79 earnings per share. Research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, April 11th were issued a $1.70 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.09%. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is currently 174.81%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMT. Citigroup increased their price objective on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. Raymond James lifted their price target on American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a research report on Wednesday, April 30th. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Barclays lifted their target price on American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. 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 analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, American Tower has a consensus rating of “Buy” and an average target price of $239.27.

American Tower 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.