Weaver Capital Management LLC Buys 170 Shares of American Tower Corporation (NYSE:AMT)

Weaver Capital Management LLC raised its stake in shares of American Tower Corporation (NYSE:AMT) by 2.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,727 shares of the real estate investment trust’s stock after acquiring an additional 170 shares during the quarter. Weaver Capital Management LLC’s holdings in American Tower were worth $1,899,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMT. Brighton Jones LLC lifted its holdings 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 valued at $727,000 after acquiring an additional 2,104 shares during the period. Venturi Wealth Management LLC increased its stake in shares of American Tower by 108.0% in the fourth quarter. Venturi Wealth Management LLC now owns 337 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 175 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of American Tower in the fourth quarter valued at $48,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of American Tower in the fourth quarter valued at $233,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of American Tower in the fourth quarter valued at $46,000. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

American Tower stock opened at $217.23 on Friday. The firm has a market capitalization of $101.70 billion, a P/E ratio of 55.84, a PEG ratio of 1.60 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 business has a 50-day moving average of $215.65 and a 200-day moving average of $203.37. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43.

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

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.13%. American Tower’s payout ratio is currently 174.81%.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of research reports. JMP Securities raised their target price on American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 30th. BMO Capital Markets raised their target price on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Barclays raised their target price on 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 raised their target price on American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Finally, Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Two investment 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. According to MarketBeat.com, American Tower presently has a consensus rating of “Buy” and a consensus target price of $240.25.

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.