Visionary Horizons LLC Purchases 300 Shares of American Tower Co. (NYSE:AMT)

Visionary Horizons LLC lifted its stake in American Tower Co. (NYSE:AMT) by 14.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,337 shares of the real estate investment trust’s stock after buying an additional 300 shares during the period. Visionary Horizons LLC’s holdings in American Tower were worth $509,000 at the end of the most recent reporting period.

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

American Tower Stock Performance

NYSE:AMT opened at $214.53 on Wednesday. The company’s 50-day moving average is $214.72 and its two-hundred day moving average is $202.93. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $100.43 billion, a price-to-earnings ratio of 90.52, a PEG ratio of 1.29 and a beta of 0.81. American Tower Co. has a 1-year low of $172.51 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping the consensus estimate of $2.41 by $0.34. The business 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.79 earnings per share. Analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.17%. American Tower’s dividend payout ratio (DPR) is presently 174.81%.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent analyst reports. Raymond James increased their price objective on American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Bank of America initiated coverage on shares of American Tower in a research note on Monday, May 19th. They issued a “buy” rating and a $255.00 price target on the stock. UBS Group raised their price objective on American Tower from $245.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Royal Bank of Canada upped their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company increased their target price on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Two 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $240.25.

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.