Townsquare Capital LLC Raises Holdings in American Tower Co. (NYSE:AMT)

Townsquare Capital LLC boosted its position in American Tower Co. (NYSE:AMT) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,645 shares of the real estate investment trust’s stock after purchasing an additional 1,924 shares during the quarter. Townsquare Capital LLC’s holdings in American Tower were worth $12,941,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its position in shares of 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 valued at $25,000 after purchasing an additional 78 shares in the last quarter. Fairscale Capital LLC purchased a new position in American Tower during the second quarter worth approximately $27,000. Northwest Investment Counselors LLC acquired a new position in American Tower during the third quarter worth $30,000. Cultivar Capital Inc. purchased a new stake in American Tower in the 2nd quarter valued at $25,000. Finally, Hara Capital LLC acquired a new stake in shares of American Tower in the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMT shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Royal Bank of Canada boosted their target price on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Scotiabank cut their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. Mizuho lifted their price target on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $235.54.

American Tower Price Performance

AMT stock opened at $209.31 on Thursday. The company has a market capitalization of $97.81 billion, a PE ratio of 88.32, a P/E/G ratio of 1.38 and a beta of 0.84. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The business’s fifty day moving average price is $216.94 and its 200 day moving average price is $212.14.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS 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 analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.58 earnings per share. On average, sell-side analysts anticipate that American Tower Co. will post 10.08 EPS 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 $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.10%. American Tower’s dividend payout ratio is presently 273.42%.

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.