1,655 Shares in American Tower Corporation (NYSE:AMT) Acquired by MBE Wealth Management LLC

MBE Wealth Management LLC bought a new position in shares of American Tower Corporation (NYSE:AMT) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,655 shares of the real estate investment trust’s stock, valued at approximately $360,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Partners Group Holding AG boosted its stake in American Tower by 8.3% in the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock worth $69,438,000 after purchasing an additional 28,988 shares during the period. Aviva PLC boosted its stake in American Tower by 13.4% in the 4th quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust’s stock worth $71,252,000 after purchasing an additional 46,009 shares during the period. LGT Group Foundation boosted its stake in American Tower by 16.9% in the 4th quarter. LGT Group Foundation now owns 42,608 shares of the real estate investment trust’s stock worth $7,815,000 after purchasing an additional 6,165 shares during the period. Raymond James Financial Inc. acquired a new position in American Tower in the 4th quarter worth approximately $193,246,000. Finally, Cbre Investment Management Listed Real Assets LLC boosted its stake in American Tower by 2.5% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 769,720 shares of the real estate investment trust’s stock worth $141,174,000 after purchasing an additional 18,555 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Royal Bank Of Canada lifted their target price on shares of American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Raymond James Financial lifted their target price on shares of American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. JMP Securities lifted their target price on shares of American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 30th. Finally, UBS Group lifted their target price on shares of American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $240.25.

American Tower Stock Up 0.8%

American Tower stock opened at $217.23 on Friday. The company has a market capitalization of $101.70 billion, a P/E ratio of 55.84, a P/E/G ratio of 1.61 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 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’s fifty day simple moving average is $215.65 and its 200-day simple moving average is $203.34.

American Tower (NYSE:AMT) last announced its 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 firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a net margin of 17.34% and a return on equity of 30.20%. The business’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.79 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company 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 $1.70 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.13%. 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.