American Tower Co. (NYSE:AMT) Shares Bought by Atlas Brown Inc.

Atlas Brown Inc. lifted its stake in shares of American Tower Co. (NYSE:AMT) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,106 shares of the real estate investment trust’s stock after purchasing an additional 75 shares during the period. Atlas Brown Inc.’s holdings in American Tower were worth $203,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Acadian Asset Management LLC boosted its position in shares of American Tower by 1,791.9% during the 2nd quarter. Acadian Asset Management LLC now owns 12,316 shares of the real estate investment trust’s stock valued at $2,392,000 after acquiring an additional 11,665 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of American Tower in the 2nd quarter valued at approximately $144,000. MGO One Seven LLC increased its holdings in shares of American Tower by 230.8% during the 2nd quarter. MGO One Seven LLC now owns 15,628 shares of the real estate investment trust’s stock worth $3,038,000 after buying an additional 10,904 shares during the last quarter. Angeles Wealth Management LLC purchased a new stake in shares of American Tower during the 2nd quarter valued at approximately $299,000. Finally, AGF Management Ltd. lifted its holdings in American Tower by 3.5% in the second quarter. AGF Management Ltd. now owns 112,323 shares of the real estate investment trust’s stock valued at $21,833,000 after acquiring an additional 3,771 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Down 2.9 %

Shares of NYSE AMT traded down $5.23 during mid-day trading on Friday, hitting $173.96. The company had a trading volume of 2,660,633 shares, compared to its average volume of 2,296,521. The business’s 50-day simple moving average is $195.74 and its 200 day simple moving average is $211.81. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market capitalization of $81.29 billion, a PE ratio of 73.40, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm 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 firm’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.58 EPS. On average, analysts predict that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.72%. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analyst Weigh In

AMT has been the subject of several recent analyst reports. Scotiabank cut their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. BMO Capital Markets cut their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Mizuho dropped their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $233.67.

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.