Farther Finance Advisors LLC Acquires 975 Shares of American Tower Co. (NYSE:AMT)

Farther Finance Advisors LLC grew its holdings in shares of American Tower Co. (NYSE:AMT) by 43.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,233 shares of the real estate investment trust’s stock after acquiring an additional 975 shares during the quarter. Farther Finance Advisors LLC’s holdings in American Tower were worth $710,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMT. Brighton Jones LLC boosted its holdings in American Tower by 113.0% in 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 last quarter. Empowered Funds LLC boosted its stake in shares of American Tower by 17.7% in the 4th quarter. Empowered Funds LLC now owns 11,693 shares of the real estate investment trust’s stock valued at $2,145,000 after purchasing an additional 1,758 shares during the last quarter. Savant Capital LLC increased its position in shares of American Tower by 5.5% during the fourth quarter. Savant Capital LLC now owns 6,214 shares of the real estate investment trust’s stock worth $1,140,000 after buying an additional 324 shares during the period. Van ECK Associates Corp increased its position in shares of American Tower by 4.0% during the fourth quarter. Van ECK Associates Corp now owns 132,818 shares of the real estate investment trust’s stock worth $24,360,000 after buying an additional 5,110 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in American Tower during the fourth quarter worth $233,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of several research analyst reports. BMO Capital Markets increased their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Morgan Stanley initiated coverage on American Tower in a research note on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 target price for the company. Barclays upped their price target on American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Citigroup increased their price target on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $240.25.

American Tower Stock Down 1.4%

AMT stock opened at $214.76 on Friday. The company has a market cap of $100.54 billion, a price-to-earnings ratio of 90.62, a P/E/G 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. The business’s 50-day moving average is $214.91 and its two-hundred day moving average is $203.08. American Tower Co. has a fifty-two week low of $172.51 and a fifty-two week high of $243.56.

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

American Tower Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.17%. American Tower’s payout ratio is currently 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.