First Affirmative Financial Network Sells 166 Shares of American Tower Co. (NYSE:AMT)

First Affirmative Financial Network lessened its position in American Tower Co. (NYSE:AMT) by 5.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,742 shares of the real estate investment trust’s stock after selling 166 shares during the period. First Affirmative Financial Network’s holdings in American Tower were worth $597,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Lowe Wealth Advisors LLC grew its holdings in 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 worth $35,000 after acquiring an additional 109 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new stake in shares of American Tower in the 4th quarter worth about $29,000. Graney & King LLC purchased a new stake in shares of American Tower in the 4th quarter worth about $32,000. Roxbury Financial LLC purchased a new stake in shares of American Tower in the 4th quarter worth about $32,000. Finally, Global Wealth Strategies & Associates lifted its position in shares of American Tower by 193.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 182 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 120 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 1.7%

Shares of American Tower 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. The stock 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 Co. has a 52-week low of $172.51 and a 52-week high of $243.56. The company has a 50-day simple moving average of $215.09 and a two-hundred day simple moving average of $202.78.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.34. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.79 earnings per share. On average, analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend 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 presently 174.81%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AMT shares. JMP Securities raised 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. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Scotiabank raised 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. Morgan Stanley started coverage on shares of American Tower in a research report on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 target price for the company. Finally, Citigroup raised their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target 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.