American Tower Co. (NYSE:AMT) Shares Bought by Verde Capital Management

Verde Capital Management increased its position in American Tower Co. (NYSE:AMT) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,521 shares of the real estate investment trust’s stock after purchasing an additional 428 shares during the quarter. Verde Capital Management’s holdings in American Tower were worth $2,072,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lowe Wealth Advisors LLC boosted its stake in shares of American Tower by 218.0% in the first 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 during the period. Minot DeBlois Advisors LLC purchased a new position in shares of American Tower in the fourth quarter valued at $29,000. Graney & King LLC purchased a new position in shares of American Tower in the fourth quarter valued at $32,000. Roxbury Financial LLC purchased a new position in shares of American Tower in the fourth quarter valued at $32,000. Finally, Global Wealth Strategies & Associates boosted its stake in shares of American Tower by 193.5% in the first quarter. Global Wealth Strategies & Associates now owns 182 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 120 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Trading Up 0.5%

American Tower stock opened at $214.77 on Friday. The firm’s 50-day moving average is $215.21 and its 200-day moving average is $202.20. 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 company has a market cap of $100.54 billion, a P/E ratio of 90.62, a PEG ratio of 1.29 and a beta of 0.86.

American Tower (NYSE:AMT) last released its quarterly earnings data 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. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter last year, the company earned $2.79 EPS. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, equities analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors 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 dividend on an annualized basis and a dividend yield of 3.17%. American Tower’s dividend payout ratio (DPR) is presently 174.81%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Barclays increased their price objective on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. JMP Securities increased their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 30th. Scotiabank increased their price objective on shares of American Tower from $234.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company increased their price objective on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. 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.