Cordatus Wealth Management LLC Buys 171 Shares of American Tower Corporation (NYSE:AMT)

Cordatus Wealth Management LLC lifted its stake in American Tower Corporation (NYSE:AMT) by 2.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 6,523 shares of the real estate investment trust’s stock after purchasing an additional 171 shares during the quarter. Cordatus Wealth Management LLC’s holdings in American Tower were worth $1,419,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Davis R M Inc. raised its holdings in American Tower by 0.3% during the first quarter. Davis R M Inc. now owns 293,167 shares of the real estate investment trust’s stock valued at $63,793,000 after acquiring an additional 771 shares during the period. Natixis Advisors LLC grew its position in shares of American Tower by 44.7% during the first quarter. Natixis Advisors LLC now owns 226,584 shares of the real estate investment trust’s stock worth $49,305,000 after purchasing an additional 70,045 shares in the last quarter. NorthRock Partners LLC raised its stake in American Tower by 14.9% during the 1st quarter. NorthRock Partners LLC now owns 6,393 shares of the real estate investment trust’s stock valued at $1,391,000 after purchasing an additional 827 shares during the period. GS Investments Inc. lifted its holdings in American Tower by 1.5% in the 1st quarter. GS Investments Inc. now owns 4,626 shares of the real estate investment trust’s stock worth $1,007,000 after purchasing an additional 69 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its stake in American Tower by 7.4% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 1,296 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 89 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

American Tower stock opened at $208.87 on Thursday. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The company has a market capitalization of $97.78 billion, a PE ratio of 75.95, a P/E/G ratio of 1.18 and a beta of 0.82. The company has a 50 day moving average price of $218.76 and a 200-day moving average price of $209.88. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.81 and a current ratio of 0.95.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%. The business’s revenue was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.79 EPS. As a group, equities analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were paid a dividend of $1.70 per share. The ex-dividend date was Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.26%. American Tower’s dividend payout ratio is presently 174.81%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AMT shares. Hsbc Global Res cut shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a report on Tuesday. Wells Fargo & Company dropped their price objective on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday. Barclays lifted their target price on American Tower from $223.00 to $246.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, HSBC lowered American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $243.00.

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.