Fifth Third Wealth Advisors LLC Acquires 674 Shares of American Tower Co. (NYSE:AMT)

Fifth Third Wealth Advisors LLC lifted its stake in American Tower Co. (NYSE:AMT) by 11.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,392 shares of the real estate investment trust’s stock after acquiring an additional 674 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in American Tower were worth $1,263,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AMT. Northwest Investment Counselors LLC bought a new stake in shares of American Tower in the 1st quarter valued at about $25,000. Gold Investment Management Ltd. bought a new position in shares of American Tower during the fourth quarter worth approximately $28,000. Thompson Investment Management Inc. bought a new stake in shares of American Tower in the fourth quarter valued at about $29,000. SOA Wealth Advisors LLC. bought a new stake in American Tower in the 1st quarter valued at about $30,000. Finally, Private Wealth Management Group LLC acquired a new stake in American Tower during the fourth quarter worth approximately $31,000. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT traded down $0.94 on Friday, reaching $194.38. The company’s stock had a trading volume of 2,261,485 shares, compared to its average volume of 2,421,501. The company has a 50-day simple moving average of $187.27 and a 200 day simple moving average of $195.21. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10. The company has a market cap of $90.77 billion, a P/E ratio of 43.86, a PEG ratio of 1.37 and a beta of 0.79.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. American Tower’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.54 EPS. As a group, equities research analysts anticipate that American Tower Co. will post 10.03 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s dividend payout ratio (DPR) is currently 146.61%.

Analyst Ratings Changes

AMT has been the subject of a number of research analyst reports. Barclays lowered their price objective on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Mizuho began coverage on American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 price target on the stock. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. BMO Capital Markets reduced their price objective on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, Scotiabank decreased their price objective on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $220.91.

Insider Activity

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other American Tower news, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the sale, the director now owns 7,332 shares of the company’s stock, valued at $1,345,422. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now owns 28,413 shares in the company, valued at $5,692,828.68. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

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.