Values Added Financial LLC Sells 81 Shares of American Tower Corporation (NYSE:AMT)

Values Added Financial LLC reduced its stake in American Tower Corporation (NYSE:AMT) by 4.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,797 shares of the real estate investment trust’s stock after selling 81 shares during the quarter. Values Added Financial LLC’s holdings in American Tower were worth $391,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. North Capital Inc. acquired a new stake in shares of American Tower during the 1st quarter valued at $25,000. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower in the fourth quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. bought a new position in American Tower in the 1st quarter valued at approximately $31,000. Graney & King LLC acquired a new stake in American Tower during the 4th quarter worth approximately $32,000. Finally, Lowe Wealth Advisors LLC grew its holdings in American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 109 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Down 0.7%

Shares of AMT stock opened at $222.90 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.43. The company’s 50-day moving average price is $216.02 and its 200-day moving average price is $204.36. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $243.56. The stock has a market cap of $104.35 billion, a price-to-earnings ratio of 57.30, a PEG ratio of 1.67 and a beta of 0.82.

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

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s payout ratio is 174.81%.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMT. Royal Bank Of Canada upped their target price on American Tower from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Raymond James Financial boosted their price target on shares of American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. UBS Group lifted their target price on American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Barclays upped their price objective on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, Citigroup increased their price target on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, March 10th. 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 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.