Weaver Capital Management LLC Acquires 170 Shares of American Tower Corporation (NYSE:AMT)

Weaver Capital Management LLC increased its holdings in shares of American Tower Corporation (NYSE:AMT) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,727 shares of the real estate investment trust’s stock after purchasing an additional 170 shares during the period. Weaver Capital Management LLC’s holdings in American Tower were worth $1,899,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Minot DeBlois Advisors LLC bought a new stake in American Tower in the 4th quarter valued at approximately $29,000. Graney & King LLC bought a new stake in American Tower in the 4th quarter valued at approximately $32,000. Lowe Wealth Advisors LLC lifted its stake 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 in the last quarter. Crowley Wealth Management Inc. bought a new stake in American Tower in the 4th quarter valued at approximately $37,000. Finally, City Holding Co. bought a new stake in American Tower in the 1st quarter valued at approximately $39,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.8%

AMT stock opened at $217.23 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43. The firm has a market capitalization of $101.70 billion, a PE ratio of 55.84, a PEG ratio of 1.60 and a beta of 0.81. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56. The business’s 50 day simple moving average is $215.65 and its 200 day simple moving average is $203.37.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The firm’s revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 EPS. As a group, research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Friday, June 13th. American Tower’s payout ratio is presently 174.81%.

Wall Street Analysts Forecast Growth

AMT has been the topic of several research reports. UBS Group boosted their target price on American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Hsbc Global Res raised American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. JMP Securities boosted their price target on American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 30th. Royal Bank Of Canada boosted their price target on American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Finally, Citigroup boosted their price target on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price 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.