One Plus One Wealth Management LLC Cuts Stake in American Tower Co. (NYSE:AMT)

One Plus One Wealth Management LLC cut its position in shares of American Tower Co. (NYSE:AMT) by 16.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 3,231 shares of the real estate investment trust’s stock after selling 637 shares during the period. One Plus One Wealth Management LLC’s holdings in American Tower were worth $703,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMT. Brighton Jones LLC boosted its stake in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares during the last quarter. Stratos Wealth Advisors LLC boosted its stake in American Tower by 10.6% during the fourth quarter. Stratos Wealth Advisors LLC now owns 2,001 shares of the real estate investment trust’s stock valued at $367,000 after buying an additional 191 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in American Tower by 4.5% during the fourth quarter. Bleakley Financial Group LLC now owns 8,344 shares of the real estate investment trust’s stock valued at $1,530,000 after buying an additional 357 shares during the last quarter. Silver Oak Securities Incorporated boosted its stake in American Tower by 16.1% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,811 shares of the real estate investment trust’s stock valued at $329,000 after buying an additional 251 shares during the last quarter. Finally, Consolidated Portfolio Review Corp boosted its stake in American Tower by 4.1% during the fourth quarter. Consolidated Portfolio Review Corp now owns 4,800 shares of the real estate investment trust’s stock valued at $880,000 after buying an additional 188 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Stock Performance

Shares of American Tower stock opened at $212.57 on Friday. The stock’s fifty day moving average is $215.09 and its two-hundred day moving average is $202.79. The company has a market capitalization of $99.51 billion, a PE ratio of 89.69, a price-to-earnings-growth ratio of 1.29 and a beta of 0.82. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52 week low of $172.51 and a 52 week high of $243.56.

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

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, June 13th. American Tower’s payout ratio is 174.81%.

Analyst Upgrades and Downgrades

AMT has been the subject of several analyst reports. Morgan Stanley initiated coverage on American Tower in a research note on Tuesday, April 1st. They issued an “overweight” rating and a $250.00 price objective for the company. Barclays raised their price objective on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Citigroup raised their price objective on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Bank of America initiated coverage on American Tower in a research note on Monday, May 19th. They issued a “buy” rating and a $255.00 price objective for the company. Finally, BMO Capital Markets raised their price objective on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, American Tower 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.