RMR Wealth Builders Grows Stock Position in American Tower Co. (NYSE:AMT)

RMR Wealth Builders lifted its stake in American Tower Co. (NYSE:AMT) by 14.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,256 shares of the real estate investment trust’s stock after buying an additional 1,258 shares during the period. RMR Wealth Builders’ holdings in American Tower were worth $2,232,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AMT. Norges Bank purchased a new position in shares of American Tower in the fourth quarter worth about $1,164,851,000. Cohen & Steers Inc. lifted its holdings in American Tower by 21.8% in the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock worth $3,516,890,000 after buying an additional 3,437,602 shares during the period. Capital Research Global Investors lifted its holdings in American Tower by 66.5% in the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock worth $1,570,547,000 after buying an additional 3,421,413 shares during the period. Capital World Investors lifted its holdings in American Tower by 160.6% in the 4th quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust’s stock worth $902,396,000 after buying an additional 3,032,005 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in American Tower by 23,627.3% in the 1st quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust’s stock worth $370,346,000 after buying an additional 1,694,784 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $217.69 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The business’s 50 day moving average price is $214.69 and its 200-day moving average price is $203.08. American Tower Co. has a 52 week low of $172.51 and a 52 week high of $243.56. The stock has a market cap of $101.91 billion, a P/E ratio of 91.85, a P/E/G ratio of 1.29 and a beta of 0.81.

American Tower (NYSE:AMT) last issued its quarterly earnings results 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. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the firm posted $2.79 EPS. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. Equities 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. Stockholders of record on Friday, June 13th will be given 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 dividend yield of 3.12%. American Tower’s dividend payout ratio is currently 174.81%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Scotiabank increased their price objective on American Tower from $234.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 30th. Morgan Stanley assumed coverage on American Tower in a report on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 price objective for the company. JMP Securities increased their price objective on American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 30th. Royal Bank of Canada increased their price objective on American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Finally, Citigroup increased their price objective on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus 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.