Atwood & Palmer Inc. Buys 100 Shares of American Tower Co. (NYSE:AMT)

Atwood & Palmer Inc. increased its stake in shares of American Tower Co. (NYSE:AMT) by 22.1% in the first quarter, Holdings Channel reports. The firm owned 553 shares of the real estate investment trust’s stock after buying an additional 100 shares during the quarter. Atwood & Palmer Inc.’s holdings in American Tower were worth $120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMT. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower during the 4th quarter worth about $29,000. Roxbury Financial LLC acquired a new position in American Tower during the fourth quarter valued at approximately $32,000. Graney & King LLC acquired a new position in American Tower during the fourth quarter valued at approximately $32,000. Lowe Wealth Advisors LLC increased its stake in 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 in the last quarter. Finally, Crowley Wealth Management Inc. acquired a new stake in American Tower in the fourth quarter worth $37,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AMT shares. Barclays boosted their price target on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. BMO Capital Markets increased their price target on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Morgan Stanley initiated coverage on American Tower in a research report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price target on the stock. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, JMP Securities increased their target price on American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 30th. Two investment 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, the company presently has a consensus rating of “Buy” and an average price target of $240.25.

American Tower Stock Up 0.1%

American Tower stock opened at $212.81 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56. The company has a fifty day simple moving average of $215.00 and a 200 day simple moving average of $202.85. The company has a market cap of $99.62 billion, a P/E ratio of 89.79, a price-to-earnings-growth ratio of 1.29 and a beta of 0.81.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.34. The company had revenue of $2.56 billion during 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 company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.79 EPS. Research analysts anticipate that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

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

About American Tower

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.