American Tower Corporation (NYSE:AMT) Shares Bought by 4J Wealth Management LLC

4J Wealth Management LLC increased its holdings in American Tower Corporation (NYSE:AMT) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,301 shares of the real estate investment trust’s stock after purchasing an additional 50 shares during the period. 4J Wealth Management LLC’s holdings in American Tower were worth $283,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. North Capital Inc. purchased a new position in shares of American Tower in the 1st quarter worth about $25,000. Minot DeBlois Advisors LLC acquired a new position in American Tower during the fourth quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of American Tower in the 1st quarter valued at $31,000. Graney & King LLC purchased a new stake in American Tower during the 4th quarter worth $32,000. Finally, Lowe Wealth Advisors LLC increased 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 valued at $35,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of several analyst reports. Bank of America started coverage on American Tower in a research report on Monday, May 19th. They issued a “buy” rating and a $255.00 target price for the company. Morgan Stanley started coverage on shares of American Tower in a research report on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 price objective for the company. JMP Securities boosted their target price on shares of American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 30th. Raymond James Financial raised their price target on shares of American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Finally, Barclays boosted their price objective on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower has an average rating of “Buy” and a consensus target price of $240.25.

American Tower Price Performance

Shares of NYSE:AMT opened at $221.75 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.43. The firm has a 50-day simple moving average of $216.24 and a 200 day simple moving average of $204.55. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The company has a market cap of $103.81 billion, a PE ratio of 57.00, a P/E/G ratio of 1.65 and a beta of 0.82.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.34. American Tower had a return on equity of 30.20% and a net margin of 17.34%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter 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. On average, sell-side analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s dividend payout ratio (DPR) is 174.81%.

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.