American Tower Co. (NYSE:AMT) Shares Purchased by Alliance Wealth Advisors LLC

Alliance Wealth Advisors LLC grew its position in American Tower Co. (NYSE:AMT) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,503 shares of the real estate investment trust’s stock after purchasing an additional 66 shares during the period. Alliance Wealth Advisors LLC’s holdings in American Tower were worth $327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower in the 4th quarter valued at about $29,000. Roxbury Financial LLC acquired a new position in shares of American Tower in the 4th quarter valued at about $32,000. Graney & King LLC acquired a new position in shares of American Tower in the 4th quarter valued at about $32,000. Lowe Wealth Advisors LLC lifted its stake in shares of American Tower by 218.0% in the 1st 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. Finally, Crowley Wealth Management Inc. purchased a new stake in shares of American Tower during the 4th quarter valued at about $37,000. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Trading Down 1.7%

Shares of AMT stock opened at $212.57 on Friday. 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 Co. has a 1 year low of $172.51 and a 1 year high of $243.56. The stock has a fifty day moving average of $215.09 and a two-hundred day moving average of $202.78. The firm has a market capitalization of $99.51 billion, a PE ratio of 89.69, a price-to-earnings-growth ratio of 1.29 and a beta of 0.82.

American Tower (NYSE:AMT) last announced its quarterly earnings results 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 return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm posted $2.79 EPS. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, research analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be issued a $1.70 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.20%. American Tower’s dividend payout ratio (DPR) is 174.81%.

Analyst Ratings Changes

AMT has been the topic of several recent research reports. JMP Securities boosted their price target on American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 30th. Bank of America initiated coverage on American Tower in a research report on Monday, May 19th. They set a “buy” rating and a $255.00 price target on the stock. Scotiabank lifted their price objective on American Tower from $234.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 30th. Morgan Stanley initiated coverage on American Tower in a report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price objective on the stock. Finally, Citigroup lifted their price objective on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $240.25.

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.