Hara Capital LLC Takes Position in American Tower Co. (NYSE:AMT)

Hara Capital LLC bought a new stake in American Tower Co. (NYSE:AMT) in the third quarter, HoldingsChannel.com reports. The firm bought 135 shares of the real estate investment trust’s stock, valued at approximately $31,000.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of American Tower by 1.6% in the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after acquiring an additional 965,938 shares during the period. Ameriprise Financial Inc. boosted its position in shares of American Tower by 41.8% in the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after acquiring an additional 1,885,421 shares during the period. Clearbridge Investments LLC boosted its position in shares of American Tower by 8.9% in the second quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust’s stock valued at $720,206,000 after acquiring an additional 302,676 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of American Tower by 16.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock valued at $643,571,000 after acquiring an additional 464,429 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of American Tower by 0.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,630,644 shares of the real estate investment trust’s stock valued at $315,868,000 after acquiring an additional 6,193 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.2 %

AMT stock opened at $197.87 on Friday. The stock has a market capitalization of $92.46 billion, a P/E ratio of 83.49, a price-to-earnings-growth ratio of 1.38 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm has a 50-day moving average price of $227.07 and a 200-day moving average price of $209.71.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the company posted $2.58 EPS. The firm’s revenue was down 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is currently 273.42%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. BMO Capital Markets cut their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Scotiabank cut their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average price target of $235.85.

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.