6,948 Shares in American Tower Co. (NYSE:AMT) Acquired by Inscription Capital LLC

Inscription Capital LLC purchased a new stake in shares of American Tower Co. (NYSE:AMT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,948 shares of the real estate investment trust’s stock, valued at approximately $1,512,000.

Several other institutional investors also recently bought and sold shares of AMT. Brighton Jones LLC lifted its stake in shares of American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 2,104 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of American Tower by 6.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 5,230 shares of the real estate investment trust’s stock valued at $959,000 after buying an additional 322 shares during the period. Allworth Financial LP lifted its position in American Tower by 380.2% during the 4th quarter. Allworth Financial LP now owns 34,642 shares of the real estate investment trust’s stock worth $6,419,000 after acquiring an additional 27,428 shares in the last quarter. Raelipskie Partnership boosted its holdings in American Tower by 7.1% in the 4th quarter. Raelipskie Partnership now owns 5,304 shares of the real estate investment trust’s stock worth $973,000 after acquiring an additional 350 shares during the period. Finally, CIBC Asset Management Inc grew its position in American Tower by 2.4% in the fourth quarter. CIBC Asset Management Inc now owns 90,746 shares of the real estate investment trust’s stock valued at $16,644,000 after acquiring an additional 2,136 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMT. Wells Fargo & Company boosted their target price on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. UBS Group boosted their price objective on shares of American Tower from $245.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. Bank of America assumed coverage on American Tower in a research note on Monday, May 19th. They set a “buy” rating and a $255.00 target price for the company. Scotiabank boosted their price target on American Tower from $234.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley started coverage on American Tower in a research note on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $240.25.

American Tower Trading Up 0.1%

NYSE AMT opened at $215.00 on Tuesday. 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 Co. has a one year low of $172.51 and a one year high of $243.56. The company has a 50-day simple moving average of $215.13 and a 200-day simple moving average of $203.08. The firm has a market capitalization of $100.65 billion, a PE ratio of 90.72, a price-to-earnings-growth ratio of 1.29 and a beta of 0.81.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, beating the consensus estimate of $2.41 by $0.34. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the prior year, the company earned $2.79 earnings per share. The business’s revenue was down 9.6% compared to the same quarter last year. On average, equities analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.16%. The ex-dividend date 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.