Prospera Private Wealth LLC Takes $115,000 Position in American Tower Co. (NYSE:AMT)

Prospera Private Wealth LLC acquired a new position in shares of American Tower Co. (NYSE:AMT) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 496 shares of the real estate investment trust’s stock, valued at approximately $115,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Edgestream Partners L.P. grew its stake in American Tower by 110.4% during the 1st quarter. Edgestream Partners L.P. now owns 2,321 shares of the real estate investment trust’s stock worth $459,000 after buying an additional 1,218 shares during the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of American Tower by 6.4% during the first quarter. Axxcess Wealth Management LLC now owns 6,842 shares of the real estate investment trust’s stock valued at $1,352,000 after acquiring an additional 414 shares in the last quarter. Capital International Investors raised its position in shares of American Tower by 106.7% in the 1st quarter. Capital International Investors now owns 345,551 shares of the real estate investment trust’s stock valued at $68,277,000 after purchasing an additional 178,378 shares during the last quarter. Capital International Inc. CA acquired a new stake in American Tower in the 1st quarter worth approximately $726,000. Finally, Capital World Investors grew its position in American Tower by 8.6% during the 1st quarter. Capital World Investors now owns 957,141 shares of the real estate investment trust’s stock worth $189,121,000 after purchasing an additional 75,550 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of several research reports. TD Cowen lifted their price objective on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Mizuho boosted their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. raised their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft upped their target price on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four investment 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Stock Up 1.1 %

AMT opened at $203.18 on Friday. The company has a fifty day moving average of $219.44 and a two-hundred day moving average of $211.24. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The stock has a market capitalization of $94.94 billion, a price-to-earnings ratio of 85.73, a PEG ratio of 1.34 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.58 EPS. On average, research analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

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.