American Tower Co. (NYSE:AMT) is Vert Asset Management LLC’s Largest Position

Vert Asset Management LLC trimmed its stake in American Tower Co. (NYSE:AMT) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,864 shares of the real estate investment trust’s stock after selling 2,507 shares during the period. American Tower accounts for about 7.5% of Vert Asset Management LLC’s investment portfolio, making the stock its biggest holding. Vert Asset Management LLC’s holdings in American Tower were worth $21,730,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Minot DeBlois Advisors LLC bought a new stake in American Tower during the 4th quarter valued at about $29,000. Roxbury Financial LLC purchased a new position in shares of American Tower in the fourth quarter worth approximately $32,000. Graney & King LLC purchased a new position in shares of American Tower in the fourth quarter worth approximately $32,000. Lowe Wealth Advisors LLC boosted its holdings 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 worth $35,000 after buying an additional 109 shares during the last quarter. Finally, Crowley Wealth Management Inc. purchased a new position in American Tower during the fourth quarter valued at approximately $37,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Down 1.7%

Shares of American Tower stock opened at $212.57 on Monday. The stock has a market cap of $99.51 billion, a price-to-earnings ratio of 89.69, a PEG ratio of 1.29 and a beta of 0.81. The firm’s 50-day moving average is $215.09 and its two-hundred day moving average is $202.79. American Tower Co. has a 1 year low of $172.51 and a 1 year high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating the consensus estimate 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 net margin of 10.05% and a return on equity of 22.01%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.79 earnings per share. As a group, research analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.70 per share. The ex-dividend date 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 currently 174.81%.

Wall Street Analysts Forecast Growth

AMT has been the topic of several analyst reports. Bank of America initiated coverage on shares of American Tower in a report on Monday, May 19th. They set a “buy” rating and a $255.00 price target on the stock. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Wells Fargo & Company boosted their price target on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Royal Bank of Canada boosted their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Finally, Scotiabank boosted their target price 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. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.