American Tower Co. (NYSE:AMT) Shares Purchased by Timber Creek Capital Management LLC

Timber Creek Capital Management LLC boosted its stake in American Tower Co. (NYSE:AMT) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,764 shares of the real estate investment trust’s stock after buying an additional 123 shares during the period. Timber Creek Capital Management LLC’s holdings in American Tower were worth $4,364,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. NBT Bank N A NY grew its stake in shares of American Tower by 3.3% in the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after purchasing an additional 54 shares in the last quarter. CX Institutional grew its stake in shares of American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 54 shares in the last quarter. O Brien Greene & Co. Inc grew its stake in shares of American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 55 shares in the last quarter. Palumbo Wealth Management LLC grew its stake in shares of American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after purchasing an additional 57 shares in the last quarter. Finally, Tyche Wealth Partners LLC grew its stake in shares of American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock worth $242,000 after purchasing an additional 58 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on AMT. JPMorgan Chase & Co. increased their price target on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Mizuho lifted their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, Scotiabank dropped their price target on shares of 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. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.54.

American Tower Trading Down 0.1 %

Shares of AMT opened at $209.00 on Friday. The business’s 50-day moving average price is $215.95 and its 200 day moving average price is $212.46. The stock has a market capitalization of $97.66 billion, a P/E ratio of 88.19, a P/E/G ratio of 1.39 and a beta of 0.84. American Tower Co. has a 1-year low of $170.46 and a 1-year 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.

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 analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion during 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 company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 EPS. Analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.10%. The ex-dividend date 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.