Canandaigua National Trust Co of Florida Has $929,000 Position in American Tower Co. (NYSE:AMT)

Canandaigua National Trust Co of Florida grew its holdings in American Tower Co. (NYSE:AMT) by 16.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,063 shares of the real estate investment trust’s stock after acquiring an additional 702 shares during the period. Canandaigua National Trust Co of Florida’s holdings in American Tower were worth $929,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fortitude Family Office LLC raised its position in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new position in shares of American Tower in the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC bought a new position in shares of American Tower during the 3rd quarter worth approximately $30,000. Hara Capital LLC acquired a new stake in American Tower in the 3rd quarter valued at $31,000. Finally, Legacy Investment Solutions LLC bought a new stake in American Tower in the third quarter valued at $34,000. 92.69% of the stock is owned by institutional investors.

American Tower Trading Down 1.4 %

Shares of American Tower stock traded down $2.57 on Monday, hitting $179.99. 2,262,420 shares of the company’s stock traded hands, compared to its average volume of 2,227,620. American Tower Co. has a one year low of $170.46 and a one year 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 stock has a market capitalization of $84.11 billion, a PE ratio of 75.95, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. The firm’s 50-day moving average price is $198.67 and its two-hundred day moving average price is $212.49.

American Tower (NYSE:AMT) last issued its 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 company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 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 10.5% on a year-over-year basis. During the same quarter last year, the business posted $2.58 EPS. On average, research analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.60%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Analyst Ratings Changes

Several equities research analysts have recently commented on AMT shares. JPMorgan Chase & Co. boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. The Goldman Sachs Group decreased their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Scotiabank decreased their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Barclays cut their price objective on American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $235.08.

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.