American Tower Co. (NYSE:AMT) is Firetrail Investments PTY Ltd.’s 7th Largest Position

Firetrail Investments PTY Ltd. grew its holdings in shares of American Tower Co. (NYSE:AMT) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,608 shares of the real estate investment trust’s stock after purchasing an additional 457 shares during the quarter. American Tower makes up approximately 4.4% of Firetrail Investments PTY Ltd.’s holdings, making the stock its 7th biggest position. Firetrail Investments PTY Ltd.’s holdings in American Tower were worth $15,242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kingsview Wealth Management LLC grew its stake in American Tower by 13.8% during the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after acquiring an additional 4,660 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in American Tower by 24.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 17,199 shares of the real estate investment trust’s stock valued at $3,398,000 after buying an additional 3,381 shares in the last quarter. Motco increased its stake in American Tower by 4.7% in the 1st quarter. Motco now owns 1,801 shares of the real estate investment trust’s stock worth $356,000 after acquiring an additional 81 shares during the last quarter. Sentry Investment Management LLC boosted its position in shares of American Tower by 11.3% during the 1st quarter. Sentry Investment Management LLC now owns 2,719 shares of the real estate investment trust’s stock valued at $537,000 after acquiring an additional 276 shares during the last quarter. Finally, CCLA Investment Management grew its holdings in shares of American Tower by 0.4% in the first quarter. CCLA Investment Management now owns 406,080 shares of the real estate investment trust’s stock valued at $80,273,000 after purchasing an additional 1,765 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.7 %

Shares of American Tower stock opened at $195.16 on Thursday. The company has a 50 day moving average of $224.82 and a 200 day moving average of $210.66. The company has a market capitalization of $91.20 billion, a P/E ratio of 82.35, a P/E/G ratio of 1.29 and a beta of 0.84. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. 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 (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the firm posted $2.58 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, research analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AMT shares. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Mizuho upped their price target on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, TD Cowen upped their price objective on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $235.85.

American Tower Company 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.