Opal Wealth Advisors LLC Buys Shares of 411 American Tower Co. (NYSE:AMT)

Opal Wealth Advisors LLC bought a new stake in American Tower Co. (NYSE:AMT) in the first quarter, Holdings Channel.com reports. The institutional investor bought 411 shares of the real estate investment trust’s stock, valued at approximately $89,000.

A number of other institutional investors have also recently added to or reduced their stakes in AMT. Brighton Jones LLC lifted its stake in shares of American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after buying an additional 2,104 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of American Tower by 6.7% in the fourth quarter. Blue Trust Inc. now owns 5,526 shares of the real estate investment trust’s stock worth $1,014,000 after buying an additional 349 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of American Tower by 6.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 5,230 shares of the real estate investment trust’s stock worth $959,000 after buying an additional 322 shares during the last quarter. Spinnaker Trust lifted its stake in shares of American Tower by 8.6% in the fourth quarter. Spinnaker Trust now owns 2,284 shares of the real estate investment trust’s stock worth $419,000 after buying an additional 180 shares during the last quarter. Finally, Aveo Capital Partners LLC lifted its stake in shares of American Tower by 9.6% in the fourth quarter. Aveo Capital Partners LLC now owns 1,805 shares of the real estate investment trust’s stock worth $331,000 after buying an additional 158 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Down 1.4%

Shares of American Tower stock opened at $214.76 on Monday. The firm has a market capitalization of $100.54 billion, a PE ratio of 90.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.81. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company’s fifty day moving average price is $214.91 and its two-hundred day moving average price is $203.04. American Tower Co. has a 52-week low of $172.51 and a 52-week high of $243.56.

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, beating the consensus estimate of $2.41 by $0.34. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.79 EPS. On average, analysts expect that American Tower Co. will post 10.14 EPS for the current 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 paid 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 is presently 174.81%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Scotiabank boosted their target price on shares of American Tower from $234.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 30th. BMO Capital Markets boosted their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. JMP Securities boosted their target price on shares of American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 30th. Finally, Bank of America started coverage on shares of American Tower in a research report on Monday, May 19th. They set a “buy” rating and a $255.00 target price on the stock. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $240.25.

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.