Enterprise Bank & Trust Co Buys 99 Shares of American Tower Co. (NYSE:AMT)

Enterprise Bank & Trust Co increased its stake in shares of American Tower Co. (NYSE:AMT) by 1.0% in the fourth quarter, HoldingsChannel reports. The firm owned 10,424 shares of the real estate investment trust’s stock after buying an additional 99 shares during the period. Enterprise Bank & Trust Co’s holdings in American Tower were worth $1,912,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC raised its stake in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Fairscale Capital LLC purchased a new stake in shares of American Tower during the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the 3rd quarter worth $30,000. Hara Capital LLC purchased a new position in American Tower during the 3rd quarter worth $31,000. Finally, Legacy Investment Solutions LLC acquired a new position in American Tower during the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 1.6 %

Shares of NYSE:AMT traded up $2.72 during trading on Monday, hitting $176.18. The company’s stock had a trading volume of 1,387,745 shares, compared to its average volume of 2,320,004. The company has a market capitalization of $82.33 billion, a PE ratio of 74.34, a P/E/G ratio of 1.31 and a beta of 0.84. 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 business has a 50 day moving average price of $194.98 and a two-hundred day moving average price of $211.92.

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 for the quarter, missing the consensus estimate of $2.45 by ($1.56). The company 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%. American Tower’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.58 EPS. As a group, research analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio is presently 273.42%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AMT shares. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $245.00 to $230.00 in a research note 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 on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Barclays decreased their target price on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday. Finally, The Goldman Sachs Group cut their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $230.67.

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.