Intellus Advisors LLC Purchases New Shares in American Tower Corporation (NYSE:AMT)

Intellus Advisors LLC purchased a new stake in American Tower Corporation (NYSE:AMT) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,538 shares of the real estate investment trust’s stock, valued at approximately $552,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cohen & Steers Inc. boosted its stake in American Tower by 21.8% during 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 purchasing an additional 3,437,602 shares during the last quarter. Capital Research Global Investors boosted its stake in American Tower by 66.5% during 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 purchasing an additional 3,421,413 shares during the last quarter. Capital World Investors boosted its stake in American Tower by 160.6% during 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 purchasing an additional 3,032,005 shares during the last quarter. GAMMA Investing LLC boosted its stake in American Tower by 23,627.3% during 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 purchasing an additional 1,694,784 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in American Tower by 272.0% during the 1st quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust’s stock worth $247,390,000 after purchasing an additional 831,247 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Down 0.6%

NYSE AMT opened at $229.75 on Friday. The firm’s 50-day moving average is $218.70 and its two-hundred day moving average is $209.28. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $107.55 billion, a P/E ratio of 59.06, a PEG ratio of 1.27 and a beta of 0.82.

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

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 13th were paid a dividend of $1.70 per share. The ex-dividend date was Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 2.96%. American Tower’s dividend payout ratio (DPR) is presently 174.81%.

Analyst Upgrades and Downgrades

AMT has been the topic of several recent research reports. Royal Bank Of Canada lifted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Wells Fargo & Company lifted their target price 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. JMP Securities lifted 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 note on Wednesday, April 30th. Scotiabank boosted their price target on shares of American Tower from $234.00 to $248.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 30th. Finally, Raymond James Financial boosted their price target on shares of American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a research report on Wednesday, April 30th. Two investment 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 MarketBeat.com, American Tower currently has an average rating of “Buy” and a consensus target price of $242.31.

American Tower Company 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.