Golden State Wealth Management LLC Buys 69 Shares of American Tower Corporation (NYSE:AMT)

Golden State Wealth Management LLC raised its stake in American Tower Corporation (NYSE:AMT) by 23.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 369 shares of the real estate investment trust’s stock after acquiring an additional 69 shares during the period. Golden State Wealth Management LLC’s holdings in American Tower were worth $80,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Patron Partners LLC grew its position in American Tower by 10.7% in the first quarter. Patron Partners LLC now owns 3,990 shares of the real estate investment trust’s stock valued at $868,000 after acquiring an additional 386 shares during the period. Mendel Capital Management LLC boosted its stake in American Tower by 8.6% in the first quarter. Mendel Capital Management LLC now owns 3,230 shares of the real estate investment trust’s stock worth $703,000 after purchasing an additional 256 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in American Tower by 40.8% in the first quarter. Sunbelt Securities Inc. now owns 7,046 shares of the real estate investment trust’s stock worth $1,533,000 after purchasing an additional 2,043 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in American Tower by 35.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,053 shares of the real estate investment trust’s stock worth $16,610,000 after purchasing an additional 20,138 shares in the last quarter. Finally, Park Place Capital Corp boosted its stake in American Tower by 70.2% in the first quarter. Park Place Capital Corp now owns 10,494 shares of the real estate investment trust’s stock worth $2,283,000 after purchasing an additional 4,330 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Down 0.5%

Shares of American Tower stock opened at $221.75 on Monday. 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 company has a market capitalization of $103.81 billion, a P/E ratio of 57.00, a price-to-earnings-growth ratio of 1.65 and a beta of 0.82. 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 $216.46 and a two-hundred day moving average of $205.07.

American Tower (NYSE:AMT) last posted its quarterly earnings data 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 business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a return on equity of 30.20% and a net margin of 17.34%. American Tower’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the company earned $2.79 earnings per share. As a group, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.07%. American Tower’s payout ratio is presently 174.81%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AMT shares. Bank of America started coverage on American Tower in a research note on Monday, May 19th. They set a “buy” rating and a $255.00 price target on the stock. Wells Fargo & Company increased their target price on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Barclays increased 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 increased 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, Raymond James Financial increased their target price on American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. Two 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $240.25.

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.