Curat Global LLC Takes Position in American Tower Co. (NYSE:AMT)

Curat Global LLC acquired a new stake in American Tower Co. (NYSE:AMT) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 205 shares of the real estate investment trust’s stock, valued at approximately $45,000.

Other large investors have also bought and sold shares of the company. Minot DeBlois Advisors LLC bought a new stake in American Tower during the 4th quarter worth approximately $29,000. Roxbury Financial LLC bought a new stake in American Tower during the 4th quarter worth approximately $32,000. Graney & King LLC bought a new stake in American Tower during the 4th quarter worth approximately $32,000. Lowe Wealth Advisors LLC grew its position in American Tower by 218.0% during 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. Finally, Crowley Wealth Management Inc. bought a new stake in American Tower during the 4th quarter worth approximately $37,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

NYSE:AMT 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’s 50-day simple moving average is $215.09 and its 200 day simple moving average is $202.78. The company has a market cap of $99.51 billion, a P/E ratio of 89.69, a P/E/G 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.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.79 earnings per share. As a group, sell-side analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Friday, June 13th. American Tower’s payout ratio is currently 174.81%.

Analyst Ratings Changes

Several research firms have issued reports on AMT. Scotiabank upped 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. Royal Bank of Canada upped their price objective on American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. JMP Securities upped their price objective on American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 30th. Hsbc Global Res raised American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Finally, UBS Group upped their price objective on American Tower from $245.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, American Tower presently has a consensus rating of “Buy” and an average 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.