American Tower Co. (NYSE:AMT) Shares Bought by Portside Wealth Group LLC

Portside Wealth Group LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 1.6% in the first quarter, HoldingsChannel reports. The firm owned 5,418 shares of the real estate investment trust’s stock after buying an additional 87 shares during the period. Portside Wealth Group LLC’s holdings in American Tower were worth $1,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower in the fourth quarter worth about $29,000. Roxbury Financial LLC acquired a new position in shares of American Tower during the 4th quarter worth about $32,000. Graney & King LLC acquired a new stake in American Tower in the 4th quarter valued at about $32,000. Lowe Wealth Advisors LLC raised 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 valued at $35,000 after acquiring an additional 109 shares during the last quarter. Finally, Crowley Wealth Management Inc. acquired a new stake in American Tower in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. BMO Capital Markets increased their price target on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. UBS Group increased their price objective on shares of American Tower from $245.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Barclays raised their price target on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada raised their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Two equities research 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 stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Buy” and an average target price of $240.25.

American Tower Trading Down 1.7%

NYSE AMT opened at $212.57 on Monday. 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 firm has a market cap of $99.51 billion, a PE ratio of 89.69, a P/E/G ratio of 1.29 and a beta of 0.81. American Tower Co. has a one year low of $172.51 and a one year high of $243.56. The firm’s fifty day moving average is $215.09 and its two-hundred day moving average is $202.79.

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 the consensus estimate 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 net margin of 10.05% and a return on equity of 22.01%. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.79 earnings per share. Analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s payout ratio is 174.81%.

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.