Roberts Wealth Advisors LLC Purchases 947 Shares of American Tower Corporation (NYSE:AMT)

Roberts Wealth Advisors LLC boosted its position in shares of American Tower Corporation (NYSE:AMT) by 3.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,781 shares of the real estate investment trust’s stock after buying an additional 947 shares during the period. American Tower makes up about 1.8% of Roberts Wealth Advisors LLC’s portfolio, making the stock its 15th biggest holding. Roberts Wealth Advisors LLC’s holdings in American Tower were worth $5,828,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMT. Partners Group Holding AG lifted its stake in shares of American Tower by 8.3% in the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock valued at $69,438,000 after purchasing an additional 28,988 shares during the last quarter. Aviva PLC lifted its stake in shares of American Tower by 13.4% in the 4th quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust’s stock valued at $71,252,000 after purchasing an additional 46,009 shares during the last quarter. LGT Group Foundation lifted its stake in shares of American Tower by 16.9% in the 4th quarter. LGT Group Foundation now owns 42,608 shares of the real estate investment trust’s stock valued at $7,815,000 after purchasing an additional 6,165 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of American Tower in the 4th quarter valued at approximately $193,246,000. Finally, Cbre Investment Management Listed Real Assets LLC lifted its stake in shares of American Tower by 2.5% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 769,720 shares of the real estate investment trust’s stock valued at $141,174,000 after purchasing an additional 18,555 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Trading Up 0.2%

Shares of NYSE AMT opened at $215.50 on Friday. 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 business has a fifty day simple moving average of $215.57 and a two-hundred day simple moving average of $203.31. The firm has a market cap of $100.88 billion, a PE ratio of 55.40, a price-to-earnings-growth ratio of 1.60 and a beta of 0.81. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. American Tower had a return on equity of 30.20% and a net margin of 17.34%. American Tower’s revenue was down 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.79 EPS. Analysts expect that American Tower Corporation will post 10.14 earnings per share 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. Shareholders of record on Friday, June 13th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s dividend payout ratio (DPR) is presently 174.81%.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. Citigroup raised their price objective on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Scotiabank raised their price objective on American Tower from $234.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 30th. Raymond James Financial raised their price objective on American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. Bank of America initiated coverage on American Tower in a research note on Monday, May 19th. They issued a “buy” rating and a $255.00 price objective for the company. Finally, Royal Bank Of Canada increased their price target on American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Two 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $240.25.

American Tower Company 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.