Integrated Advisors Network LLC Acquires 390 Shares of American Tower Co. (NYSE:AMT)

Integrated Advisors Network LLC boosted its position in shares of American Tower Co. (NYSE:AMT) by 3.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,456 shares of the real estate investment trust’s stock after buying an additional 390 shares during the quarter. Integrated Advisors Network LLC’s holdings in American Tower were worth $2,275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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 worth $35,000 after purchasing an additional 109 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in American Tower during the 4th quarter valued at about $29,000. Graney & King LLC bought a new position in American Tower during the 4th quarter valued at about $32,000. Roxbury Financial LLC bought a new position in American Tower during the 4th quarter valued at about $32,000. Finally, City Holding Co. bought a new position in American Tower during the 1st quarter valued at about $39,000. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMT shares. Bank of America started coverage on shares of American Tower in a research note on Monday, May 19th. They issued a “buy” rating and a $255.00 price objective on the stock. JMP Securities increased their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a report on Wednesday, April 30th. BMO Capital Markets increased their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Morgan Stanley began coverage on shares of American Tower in a report on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 target price for the company. Finally, Wells Fargo & Company lifted their price objective on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note 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. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $240.25.

American Tower Stock Performance

AMT stock opened at $214.28 on Thursday. 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 business has a 50-day moving average price of $214.60 and a 200 day moving average price of $203.01. The company has a market capitalization of $100.31 billion, a P/E ratio of 90.41, 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 earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm earned $2.79 earnings per share. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal 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 paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.17%. American Tower’s dividend payout ratio (DPR) is presently 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.