American Tower Co. (NYSE:AMT) Shares Sold by Capital Square LLC

Capital Square LLC trimmed its stake in shares of American Tower Co. (NYSE:AMT) by 5.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,612 shares of the real estate investment trust’s stock after selling 881 shares during the quarter. American Tower accounts for 2.2% of Capital Square LLC’s portfolio, making the stock its 5th largest holding. Capital Square LLC’s holdings in American Tower were worth $3,631,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Loomis Sayles & Co. L P lifted its holdings in American Tower by 16.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 44,973 shares of the real estate investment trust’s stock valued at $10,459,000 after purchasing an additional 6,236 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of American Tower in the 3rd quarter worth approximately $1,147,000. Dynamic Technology Lab Private Ltd grew its position in American Tower by 252.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 4,800 shares of the real estate investment trust’s stock worth $1,116,000 after acquiring an additional 3,437 shares during the last quarter. Fisher Asset Management LLC increased its holdings in American Tower by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 1,731,570 shares of the real estate investment trust’s stock valued at $402,694,000 after purchasing an additional 52,925 shares in the last quarter. Finally, Hartford Funds Management Co LLC raised its position in American Tower by 44.6% in the 3rd quarter. Hartford Funds Management Co LLC now owns 5,624 shares of the real estate investment trust’s stock valued at $1,308,000 after purchasing an additional 1,735 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMT. BMO Capital Markets lowered their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their price objective on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, TD Cowen boosted their target price 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 analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $235.54.

American Tower Trading Up 0.5 %

Shares of NYSE AMT traded up $0.98 during midday trading on Monday, reaching $205.29. 134,574 shares of the stock were exchanged, compared to its average volume of 2,311,385. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $95.93 billion, a price-to-earnings ratio of 86.21, a P/E/G ratio of 1.36 and a beta of 0.84. The business has a 50-day simple moving average of $218.75 and a two-hundred day simple moving average of $211.84.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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 analyst estimates of $2.77 billion. During the same period in the previous year, the company posted $2.58 earnings per share. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities research analysts expect that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is 273.42%.

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.