American Tower Co. (NYSE:AMT) Stock Holdings Increased by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC increased its holdings in American Tower Co. (NYSE:AMT) by 5.1% during the first quarter, Holdings Channel reports. The firm owned 2,932 shares of the real estate investment trust’s stock after purchasing an additional 143 shares during the period. Wealthcare Advisory Partners LLC’s holdings in American Tower were worth $638,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cohen & Steers Inc. raised its holdings in shares of 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 purchasing an additional 3,437,602 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of American Tower by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust’s stock worth $2,074,956,000 after purchasing an additional 129,192 shares in the last quarter. FMR LLC raised its holdings in shares of American Tower by 5.0% in the 4th quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust’s stock worth $2,050,390,000 after purchasing an additional 537,136 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of 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 purchasing an additional 3,421,413 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of American Tower in the 4th quarter worth approximately $1,164,851,000. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on AMT shares. Scotiabank boosted their target price on shares of American Tower from $234.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 30th. Raymond James lifted their target price on shares of American Tower from $231.00 to $251.00 and gave the stock a “strong-buy” rating in a research report 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 report on Wednesday, April 30th. Morgan Stanley assumed coverage on shares of American Tower in a research report on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 target price on the stock. Finally, Citigroup lifted their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $240.25.

American Tower Stock Performance

Shares of AMT opened at $214.76 on Friday. The company’s 50 day moving average price is $214.91 and its 200 day moving average price is $203.13. American Tower Co. has a 52 week low of $172.51 and a 52 week high of $243.56. The company has a market capitalization of $100.54 billion, a PE ratio of 90.62, a PEG ratio of 1.29 and a beta of 0.81. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the company earned $2.79 earnings per share. American Tower’s revenue for the quarter was down 9.6% on a year-over-year basis. Research analysts expect that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Friday, June 13th. American Tower’s payout ratio is 174.81%.

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.